Africa’s leading fintech company, Flutterwave, is making significant strides towards becoming IPO-ready. CEO Olugbenga ‘GB’ Agboola recently shared the company’s aspirations at Semafor’s World Economy Summit, emphasizing the importance of establishing robust corporate governance and infrastructure to ensure long-term success in Africa.
Flutterwave enables businesses to receive payments from consumers and other companies across the continent. To prepare for the public offering, the company has made critical changes to its corporate team. It has appointed a new board chair, two independent directors, and experienced executives to bridge the gap between the tech world and regulators.
In addition to its IPO preparations, Flutterwave has been actively engaging with African regulators, who have shown a willingness to listen and collaborate over the past two years. Despite some friction with regulators in Kenya, the company has progressed elsewhere, such as securing two licenses in Rwanda last year.
Flutterwave’s growth and potential have not gone unnoticed. In its last major funding round, the company achieved a valuation of $3 billion, setting a new record for an African tech startup. The entire African tech ecosystem is eager to see Flutterwave prove that the continent can produce world-class tech companies capable of generating substantial returns for investors.
Flutterwave has partnered with Microsoft in a five-year strategic technology partnership to enhance its offerings further. By building its next-generation platform on Microsoft Azure, Flutterwave aims to accelerate payment innovation in Africa and support the growth of small businesses across the continent. The collaboration will allow Flutterwave to process high-volume payments at scale, ensuring its clients a seamless and secure payment experience.
Flutterwave has joined Acquired.com to facilitate domestic card payments on its flagship remittance product, Send App. This partnership will enable faster and more secure outward remittance transactions for UK and EU cardholders sending money to Africa. Acquired.com’s payment processing and optimization expertise will help Flutterwave enhance its capabilities and streamline the customer journey.
In recognition of its innovative spirit, Flutterwave was named Fast Company’s Most Innovative Company for Europe, the Middle East, and Africa in 2024. The company’s dedication to innovation is evident in its comprehensive payment solutions, which simplify currency exchanges, e-commerce, and remittances for global and local businesses in Africa.
Flutterwave’s founder and CEO, Olugbenga Agboola, was appointed vice chair of the US Chamber of Commerce’s US-Africa Business Center’s board of directors. This prestigious role underscores Flutterwave’s commitment to strengthening US-Africa relations and advancing digital transformation on the continent.
As Flutterwave continues to grow and innovate, it remains focused on its mission of connecting Africa to the global economy. With its strategic partnerships, cutting-edge technology, and unwavering dedication to empowering businesses, Flutterwave is poised to revolutionize the African fintech landscape and pave the way for a more prosperous future for the continent.
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