African fintech Flutterwave firm on plan to bring international markets to local businesses

February 13, 2020 (2 weeks ago)
Flutterwave, which was founded in 2016 by a team of Nigerian ex-bankers, entrepreneurs and engineers including CEO Olugbenga Agboola and based in San Fransisco, United States, currently works with over 90,000 clients globally, 6,000 of them in Kenya/COURTESY

, NAIROBI, Kenya, Feb 13 – African focused payments solutions firm Flutterwave is seeking to open up international markets to local businesses by eradicating payment hurdles that make companies shy away from pursuing deals abroad.   

Flutterwave, which was founded in 2016 by a team of Nigerian ex-bankers, entrepreneurs and engineers including CEO Olugbenga Agboola and based in San Fransisco, United States, currently works with over 90,000 clients globally, 6,000 of them in Kenya.  

Last year, the payment gateway processed 107 million transactions worth $5.4 billion. 

“Our aim is to make it easy for businesses to make and collect payments. What we want is to empower African businesses to trade internationally and not have to worry about how the payments will be processed by leaving that to us,” said Agboola. 

He was speaking earlier this week during a meeting with local clients and tech enthusiasts at Nairobi’s iHub. 

Agboola who was in the country to network with clients said the company will work to empower SMEs access more markets and individuals to remit and receive money from anywhere in the world. 

The company is looking to increase its partnerships in Kenya by offering a reliable payment infrastructure that will connect local businesses as well as individuals to the global economy.  

It is credited with offering payment processing platforms for multinationals such as Uber, Transferwise and Booking.com. 

“We help companies process payments in real time which is a big plus in improving cash flow and enabling a business operate more efficiently,” said Flutterwave’s Business Development Lead in Kenya, Elizaphan Mouko. 

Last month, the fintech firm announced a US$35 million fundraising round and partnerships with WorldPay and Visa to steer expansion plans into northern and francophone Africa.  

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