Flutterwave made the list of Y Combinator’s top companies by valuation as of October 2019. The provider of digital payment infrastructure for Africa was #97 out of 120 companies and the only African tech company on the list. Each company was valued at over $150 million and some had created over 50000 jobs. The cumulative valuation of these companies was more than $155 billion.
(1/4) We’re excited to share this year’s Top YC Companies. Here are the 101 YC alum, listed by valuation: https://t.co/njsrrFS7mq.
— Y Combinator (@ycombinator) October 2, 2019
Flutterwave is a Nigerian fintech company founded by Iyinoluwa Aboyeji and Olugbenga Agboola in May 2016. Their software enables merchants to process card payments across Africa and has created 120 jobs since inception. In 2018, the startup had raised a total of $20.4 million in its Series A, after 9 funding rounds.
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In July this year, Flutterwave entered into a partnership with Alipay, China’s largest e-commerce platform, to foster digital payments across Africa and China. Flutterwave is headquartered in Nigeria and San Francisco and operates in Kenya, Ghana, Uganda and more recently, South Africa.
The YC Accelerator is a US-based accelerator that invests $150,000 twice every year in participatory startups. The startup founders are taken to work at Silicon Valley for three months and pitch during a Demo Day to access funds, mentorship opportunities, and support in exchange for 7% equity.
This stride by Flutterwave has given Africa credence in the global tech community by representing Africa for the time on the list. Since 2005, YC has funded over 2000 startups. Learn more about YCombinator here.
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