Flutterwave reaches $3.25B valuation with Ripple investment
Flutterwave, Africa’s most valuable fintech company, has raised a Series E round at a $3.25 billion valuation after an investment from Ripple, a United States-based blockchain payments company. Flutterwave declined to disclose how much Ripple invested. “Ripple did invest significantly in Flutterwave, an actual cash investment, so they are now an equity shareholder of the company,” Olugbenga “GB” Agboola, Flutterwave’s founder and chief executive, told TechCabal on a call on M
Flutterwave, Africa's leading fintech, has secured a $3.25 billion valuation through a Series E round backed by Ripple. The investment was not disclosed in detail, but Ripple now holds equity in the company. Flutterwave plans to integrate Ripple's stablecoin, RLUSD, into its payment systems, enhancing cross-border transactions. The decision to partner with Ripple was influenced by its technology, regulatory standing, and cost-effective money transfer capabilities. Ripple aims to expand its presence in Africa's growing dollar payment market, projected to hit $1.5 trillion by 2030. The partnership is expected to boost Flutterwave's stablecoin volumes significantly. This valuation is a slight increase from the $3 billion achieved in 2022. The investment is a primary one, with funds added to Flutterwave's balance sheet. The deal highlights the growing importance of stablecoins in cross-border transactions.
The partnership between Flutterwave and Ripple highlights the growing role of stablecoins in cross-border payments, offering new opportunities for financial inclusion and efficiency.
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