Nigeria’s Fintech company, Flutterwave has completed a Series A Extension round of financing from Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures, and Raba Capital, among others.
With this latest round of investment, Flutterwave has now raised over $20 million with its largest investors include Green Visor Capital and Greycroft Partners.
In the same vein, Iyinoluwa Aboyeji has stepped aside as Flutterwave CEO to pursue family goals while thanking the company’s board and team in its farewell message.
Olugbenga Agboola, who is also a Flutterwave Co-Founder will replace Iyin Aboyeji as CEO. Olugbenga Agboola is a Financial Technology Engineer, with core financial services technology experiences with Paypal, Google, GTBank, Access Bank, Standard /StanbicIBTC Bank
Also, as part of the new investment, Green Visor Capital Chairman & General Partner and former Chairman & CEO of Visa, Joe Saunders has joined the Flutterwave Board of Directors.
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“It’s been amazing working with the Flutterwave team to build another great African company and I’m excited for the future under its new leadership.”
While commenting on his new appointment, Olugbenga Agboola said, “On behalf of the entire Flutterwave team, we wish Iyinoluwa Aboyeji best of luck in his future endeavours. Moving forward; the entire Flutterwave team and I are excited for Flutterwave’s future and look forward to growing the company.”
Recall in August, Flutterwaves got an approval from the Central Bank of Nigeria (CBN) for its Unstructured Supplementary Service Data (USSD) technology product. CBN granted approval for this solution, following the release of an official company statement. The USSD service was to enable its enterprise and retail customers layer their products on this infrastructure.
Flutterwave is building modern payments technology and infrastructure for Africa to enable people and businesses to connect with the global economy.
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