How Much Did Flutterwave Raise? Headquarters, Funding & Key Investors

Flutterwave has raised $489 million across several rounds, beginning with a $230K seed in 2016 led by Y Combinator. In 2017, it secured $10 million in Series A backed by Green Visor Capital and Greycroft, followed by an additional $9.2 million Series A in 2018. The company expanded with a $35 million Series B in January 2020 and a $170 million Series C in March 2021 led by Avenir and Tiger Global, propelling its valuation above $1 billion. In February 2022, Flutterwave closed a $250 million Series D round led by B Capital, pushing its valuation to $3 billion.

How Much Did Flutterwave Raise? Funding & Key Investors

Flutterwave is a San Francisco-based fintech platform that powers digital payments across Africa and beyond. Founded in 2016 by Iyinoluwa Aboyeji and Olugbenga Agboola, the company enables businesses to accept payments in over 150 currencies through cards, mobile wallets, and bank transfers. Flutterwave bridges global payment gaps by offering secure gateway APIs, virtual cards, and invoice tools that help businesses scale seamlessly across borders.

What Is Flutterwave and What Does It Do?

Flutterwave, founded in 2016 by Iyinoluwa Aboyeji and Olugbenga Agboola, is a San Francisco-based (United States) fintech company. It provides a payment infrastructure that enables businesses to send and receive money in over 150 currencies via cards, mobile wallets, and bank transfers.

Flutterwave employs between 201 and 500 people (as of July 2024). Its suite of services includes payment gateway APIs, invoice management, and issuing of virtual cards. Simplifying cross-border transactions, it empowers enterprises and SMEs across Africa to integrate global payment solutions with ease and efficiency.

How Much Funding Has Flutterwave Raised?

1. Seed Round 1

Amount Raised: $230K
Date: August 2016
Lead Investors: Y Combinator
Motivation: To support early growth and product launch.

2. Non-Equity Assistance

Amount Raised: $50K
Date: May 2017
Lead Investors: Google Launchpad Accelerator
Motivation: To gain strategic support and mentorship from Google.

3. Series A (First Round)

Amount Raised: $10M
Date: July 2017
Lead Investors: Green Visor Capital, Greycroft
Motivation: To scale operations and enhance offerings.

4. Series A (Second Round)

Amount Raised: $9.2M
Date: October 2018
Motivation: To continue scaling and enter new markets.

5. Series B

Amount Raised: $35M
Date: January 2020
Lead Investors: Greycroft, Headline
Motivation: To expand product lines and geographic reach.

6. Series C

Amount Raised: $170M
Date: March 2021
Lead Investors: Avenir, Tiger Global Management
Motivation: To accelerate customer acquisition and product innovation.

7. Series D

Amount Raised: $250M
Date: February 2022
Lead Investors: B Capital
Motivation: To expand internationally and enhance existing services.

Total Funding Raised: $489 Million

Current Valuation: $3 Billion (as of February 2022)

Latest Funding Date: February 2022

Key Investors

1. Avenir Growth Capital

Details: New York-based private investment firm backing growth-stage companies.
Investment Focus Areas: Technology, Consumer, Financial Services.
Notable Investments: Flutterwave, Away, Glossier.

2. Tiger Global Management

Details: Investment firm managing hedge funds and private equity funds focused on technology and internet companies.
Investment Focus Areas: Technology, Media, Telecommunications.
Notable Investments: Facebook, LinkedIn, Spotify.

3. Greycroft

Details: Venture capital firm investing in early and growth-stage companies across industries.
Investment Focus Areas: Technology, Media, Healthcare.
Notable Investments: Venmo, Huffington Post, Braintree.

4. Google Launchpad Accelerator

Details: Google-backed program supporting startups with funding, mentorship, and resources.
Investment Focus Areas: Technology, AI, Cloud Computing.
Notable Investments: Flutterwave, Brainly, Kudi.

5. B Capital

Details: Venture capital firm partnered with Boston Consulting Group to back high-growth startups.
Investment Focus Areas: Healthcare, Fintech, Enterprise Software.
Notable Investments: Atomwise, Evidation Health, Ninja Van.

Where Is Flutterwave’s Headquarters?

Flutterwave is headquartered in San Francisco, California (United States). This strategic location offers access to global fintech talent and venture capital networks, while maintaining strong operational links to Africa its primary market. The proximity to Silicon Valley also supports innovation through collaboration with top tech partners and institutions.

What’s Next for Flutterwave?

Flutterwave plans to strengthen its market leadership by expanding into more global markets and enhancing its merchant platform with AI-driven fraud protection and analytics. The company is focused on building compliance frameworks across regions and growing its partnership ecosystem with banks and payment providers. With a valuation of $3 billion and steady investor confidence, Flutterwave aims to become the dominant payment gateway for Africa’s rapidly digitizing economies.

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