Flutterwave
payments . payment gateways . processors
FOUNDING YEAR: 2016
LOCATION: United States
Last Update: 19/01/2021
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About
At Flutterwave, we are on a mission to build payments infrastructure to connect Africa to the global economy. We do this by building technology, tools, and infrastructure for businesses and banks who want to provide a more seamless and secure payments experience for their customers. Founded in 2016 by a team of African finance and technology veterans from Standard Bank, PayPal, Google Wallet amongst others.Flutterwave has grown to become one of the fastest growing payments companies in the world. Since inception Flutterwave has processed close to $2 billion in payments and 25 million transactions across over 33 African countries where it currently operates. It has attracted significant investment from experienced Fintech investors such as Ycombinator Continuity Fund (investors in Stripe), Greycroft (investors in Braintree and Venmo), Greenvisor Capital, Omidyar Network, and Glynn Capital amongst others. In 2017 Flutterwave was named Africas best fintech company at the Apps Africa Innovation Awards.
MEDICI Analysis
Flutterwave provides technology, infrastructure and services to enable global merchants, payment service providers and Pan-African banks accept and process payments on any channel (Web, Mobile, ATM & POS). The company offers payment gateway API that allows merchants to accept, while users can pay via payments cards and mobile wallets like m-Pesa. The company has offices in Lagos, Nairobi, Accra, and Johannesburg.
Focus
PRODUCTS & SERVICES
Online payment gateway & processing platform for small businesses in Africa. Flutterwave is the easiest way to pay and get paid across Africa.
REVENUE MODEL
The company charges a transaction fee in addition to processor fees. It charges .3% fee per transaction.
MAIN CLIENTS
Some of the clients are Uber
Paystack
The Ticket Fairy
Page Microfinance Bank
Access Bank
etc.
EXISTING PARTNERSHIPS
Partnered with KCB bank
Traction
VALUATION COMMENT:
Pre-Series A
COMPANY TYPE:
For Profit
TRANSACTIONS COMMENT:
The company has processed $1.2 billion in payments across over 10 million transactions in August 2017.
TRACTION COMMENT:
Flutterwave has processed over $70 million in transactions to date.(2016)
People
FOUNDERS
Iyinoluwa Aboyeji
Olugbenga Agboola
BOARD MEMBERS AND ADVISORS
Joe Saunders
NUMBER OF EMPLOYEES
11-50
INVESTORS:
The FIS FinTech Accelerator in Partnership with The Venture Center
Momentum
FUNDED
YES
NUMBER OF FUNDING ROUNDS
6
TOTAL FUNDING
$45.05 M
DATE OF LAST FUNDING
Jan 2020
IPO STATUS
Private
TOTAL FUNDING COMMENT
The company will use the new capital for hiring more talent, build out global operations and fueling rapid expansion across Africa. (Oct. 2018)
ESTIMETED REVENUE RANGE
$1M to $10M
SEED & PRIOR FUNDING
$50 K
SEED CLOSED ON
May 2016
FUNDING SERIES
SERIES A · $10 M · Oct 2018
SERIES B · $35 M · Jan 2020
PRIZE MONEY
$50 K
LISTED
NO
company provided insights
Web Traffic
MONTHLY VISITS
1,168,181
AVERAGE VISITS (6 MONTHS)
1,303,253.94
MONTHLY VISITS GROWTH
-48.83%
VISIT DURATION
1,275
VISIT DURATION GROWTH
713.54%
PAGE VIEWS VISIT
6
PAGE VIEWS VISIT GROWTH
81.15%
BOUNCE RATE
50.32%
BOUNCE RATE GROWTH
-28.3%
GLOBAL TRAFFIC RANK
40,330
MONTHLY RANK CHANGE
11,941
MONTHLY RANK GROWTH
42.06%
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