Flutterwave, A Payments Infrastructure Company With A Strong Presence In Africa, Is Valued At $3.2B Following Series E Funding Round – AfroTech

Flutterwave has completed its Series E funding round.

Flutterwave is a San Francisco-based payments infrastructure company with a presence in 35 African countries and has processed $23 billion in transactions, according to Forbes. The platform has been useful to companies including Microsoft, X, and Uber, as well as families looking to send money overseas or to shop online and purchase event tickets, according to Forbes and Flutterwave’s website.

Flutterwave accepts payments in more than 30 currencies, handles more than 20 million API calls per day, and processes 500,000 payments, its website noted. To become more efficient and operate at a faster pace, Flutterwave will focus its strategy on stablecoins. The company believes this will transform how African businesses engage with global markets, according to a press release.

These efforts will be possible with an investment from Ripple, which describes itself as “the leading financial technology company that offers crypto solutions for businesses.” Ripple’s investment is part of Flutterwave’s Series E funding round.

Flutterwave is valued at $3.2 billion, per the press release.

“Flutterwave has built one of the most advanced payments networks in Africa, and as its infrastructure evolves, stablecoins are becoming central to that story,” Reece Merrick, managing director, MEA at Ripple, said in the press release. “Our investment will establish RLUSD within that infrastructure, with Flutterwave driving stablecoin flows over the XRPL and deepening its role as a settlement layer for real-world payments across the continent. Together we also plan to bring Ripple Payments’ speed and efficiency to cross-border transactions in the region, opening up faster, lower-cost financial services to businesses and consumers at scale.”

Olugbenga “GB” Agboola, co-founder and CEO, Flutterwave, commented:

“This investment marks a pivotal moment in our journey, enabling us to significantly scale our infrastructure and expand our stablecoin-enabled payments roadmap. By unlocking faster settlement and lower-cost cross-border payments, we are building a payment superhighway that connects African commerce directly to the global economy. This partnership is a catalyst for Nigerian and African sovereignty in the digital financial age, ensuring our markets are primary participants in the global digital asset revolution.”