US-based Nigerian fintech Flutterwave closes $10m Series-A extension round

US-based Nigerian fintech startup Flutterwave has closed a $10-million Series-A extension round bringing the total amount the startup has raised since its launch two years ago, to just over $20-million.

In a statement on the company’s website last Sunday (14 October), Flutterwave stated that the Series-A extension round included investments from Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures and Raba Capital, among others.

As part of the deal, Green Visor Capital chairman and general partner Joe Saunders will join Flutterwave’s board of directors.

Since its launch in 2016, Flutterwave has raised over $20-million

Flutterwave provides digital payments infrastructure and services which enable global merchants, payment service providers and pan-African banks to accept and process payments across various channels.

The startup claims close to 24 000 businesses and individuals use its solution to process payments across Africa.

The startup was founded in 2016 by Iyinoluwa Aboyeji — who recently stepped down as CEO — and Olugbenga Agboola who will be heading the company.