Flutterwave
Also a provider — view Flutterwave’s profile →“Can one company own the payment rails between Africa and the rest of the world?”
Founded2016
HQSan Francisco, California, USA (and Lagos, Nigeria)
FoundersIyinoluwa Aboyeji, Olugbenga Agboola
Latest roundSeries C, 2021 ($170M)
Valuation>$1B (unicorn, 2021)
IndustryInfrastructure / Payments
The story
Founded 2016 as an African cross-border payment gateway connecting local card schemes, bank accounts, and mobile-money rails. Expanded from acquiring to a full-stack financial infrastructure platform — adding remittances (Send), virtual cards, POS, and a lending marketplace (Flutterwave Capital) powered by third-party African banks. Now positions itself as pan-African payments infrastructure with international payout corridors into USD/EUR/GBP.
Last 12 months
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Product timeline
2016
Founded by Iyinoluwa Aboyeji and Olugbenga Agboola to build payment infrastructure for African merchants.· pivot
2021
Raised $170M Series C at >$1B valuation — largest African tech round at the time.· funding
2022
Launched Flutterwave Capital lending marketplace in partnership with African banks and lenders.· lending
The stack
3 layers disclosed in Flutterwave’s embedded-finance stack
Payments / PSP
Lending
in the full report
FX & payouts
in the full report
Accounting gap: none
9 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.