Nigeria’s $1billion valued Flutterwave eyes New York listing, After raising $179m.
Nigeria-founded payments company Flutterwave has raised $179 million from investors to expand its customer base,
it was founded in 2016 by Nigerians and headquartered in San Francisco, the company specialises in individual and consumer transfers.
It is Africa-focused.
The company’s CEO now said it could consider a New York listing.
Flutterwave is one of several fintech groups aiming to facilitate and capitalise on a booming African payments market
driven by increased mobile phone use and faster internet speeds.
“We may consider the possibility of listing in New York or a possible dual listing in New York and Nigeria,”
Flutterwave’s CEO and co-founder Olugbenga Agboola told Reuters in a telephone interview late on Tuesday.
Flutterwave on Wednesday said it had “secured $179 million from a leading group of international investors”
to expand its customer base in existing and international markets and to develop new products.
“The company’s valuation is now in excess of $1 billion.
The fundraise brings the total investment in Flutterwave to $225 million,”
it said in a statement, adding that the COVID-19 pandemic had accelerated the shift to digital payments in Africa.
The fundraising round was led by Avenir Growth Capital and Tiger Global Management LLC.
“Flutterwave is at the forefront of innovation in payments technology,”
said Jamie Reynolds, a partner at Avenir Growth Capital.
“We are excited to support the team as they build it’s infrastructure frontier in
the world connecting merchants
and consumers intra-Africa and globally.”
Nigeria’s $1billion valued Flutterwave eyes New York listing, After raising $179m