An African focused payment company, Flutterwave, on Wednesday announced that it has secured $170 million from a leading group of international investors to expand its customer base in existing and international markets and to develop new products.
With this, TOS News gathered that Flutterwave could consider a New York listing.
Chief Executive Officer and co-founder, Olugbenga Agboola said, “we may consider the possibility of listing in New York or a possible dual listing in New York and Nigeria.”
According to a statement from the firm, the company’s valuation is now in excess of $1 billion.
The fundraise brings the total investment in Flutterwave to $225 million, it said in a statement, and that the COVID-19 pandemic had accelerated the shift to digital payments in Africa.
The report captured that the fundraising round was led by Avenir Growth Capital and Tiger Global Management LLC.
Jamie Reynolds, a partner at Avenir Growth Capital said “Flutterwave is at the forefront of innovation in payments technology.”
“We are excited to support the team as they build the last available payments infrastructure frontier in the world – connecting merchants and consumers intra-Africa and globally, ” he said.
Flutterwave which was founded in 2016 by a team of ex-bankers, entrepreneurs and engineers specialises in individual and consumer transfers.