Payments startup Flutterwave hits $3.2B valuation, backed by Ripple
African payments startup Flutterwave has reached a $3.2 billion valuation following a Series E funding round backed by Ripple. The partnership aims to improve cross-border financial services across Africa by leveraging blockchain and API technology.
Why it matters
Increased investment in African fintech infrastructure is essential for overcoming fragmented banking systems and facilitating regional economic growth.
African payments infrastructure company Flutterwave announced Tuesday a Series E round that values the company at $3.2 billion. This round, notably, includes an equity investment from payments blockchain company Ripple.
The article reports on a business transaction using standard industry terminology without promotional bias.
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