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African fintech Flutterwave gets $35 million, partners with WorldPay – Source Reuters Tech News

LAGOS (Reuters) – Africa-focused fintech firm Flutterwave on Tuesday announced a $35 million fundraising round and partnerships with WorldPay and Visa as it targets expansion in northern and Francophone Africa.

A man poses as he displays the Flutterwave homepage on a mobile phone screen in Abuja, Nigeria January 21, 2020. REUTERS/Afolabi Sotunde

The startup, founded in 2016 by Nigerians and headquartered in San Francisco, specializes in individual and consumer transfers — one of several fintech firms aiming to facilitate and capitalize on Africa’s booming payments market.

As part of the deal, Flutterwave will become the African payment provider for Worldpay’s clients worldwide, making the company the latest African fintech firm to attract global cash and big-name partnerships. While the agreement is not exclusive, it is WorldPay’s only partner on the continent.

Visa’s investment is its first buy in to Flutterwave, with which it joined last year on a consumer payment…

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Source Reuters Tech News

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