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Flutterwave, Inc.
Flutterwave is a payments technology company that lets businesses across Africa send and receive money, both locally and across borders.
Flutterwave is a payments company that helps businesses across Africa accept and send money. If a small shop in Lagos wants to take a card payment, a global company wants to pay a contractor in Nairobi, or an online store wants to collect money from customers in another country, Flutterwave builds the digital pipes that make it happen. It connects businesses to banks, mobile money wallets, and card networks, so a merchant does not have to strike separate deals with dozens of financial institutions just to get paid.
The company makes money mostly by taking a small fee on the payments it processes, similar to how PayPal or Stripe earn a slice of each transaction. Its core products are a payment gateway that lets merchants accept cards and mobile money, a tool for sending money across borders, and software that lets other companies build payment features into their own apps. Customers choose it because Africa's payment landscape is fragmented — different countries, currencies, and phone-based money systems — and Flutterwave handles that mess behind one integration. It is now headquartered in San Francisco, though its business is rooted in Africa, and it has expanded into sending money between African countries and the rest of the world.
The company grew fast on the startup story of its founder, Olugbenga Agboola, and reached a valuation of over $3 billion in 2022, making it one of Africa's rare "unicorns." But the ride has been bumpy. In 2023, Kenyan authorities froze accounts tied to Flutterwave over money-laundering concerns, though a court later unfroze them, and the company has faced lawsuits and press reports questioning its corporate governance and past conduct. It has also fought harder against rivals like PayPal and Stripe-style processors expanding into its markets. Flutterwave is private, so it doesn't report detailed public financials, but it has said it processes billions of dollars in payments and serves a large base of merchants and customers across the continent.
Saved answer · last researched 10 Nov 2026