FlutterWave raises $170m, a fintech company that provides a payment infrastructure for global merchants and payment service providers.
The round was led by growth-equity firms Avenir Growth Capital and Tiger Global. New and existing investors who participated include DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, PayPal, Salesforce Ventures, Tiger Management, Worldpay FIS, and 9yards Capital.
This funding round comes a year after Flutterwave raised a $35 million Series B and a $20 million Series A in 2018. In total, Flutterwave has raised $225 million and is one of the few African startups to have secured more than $200 million in funding.
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In recent times other fintech Interswitch and e-commerce company, Jumia was a unicorn coming out of Nigeria. Flutterwave is the third firm to join the small club of African unicorns within a period of fewer than 10 years.