Flutterwave, a U.S. and Lagos-based fintech that’s on a mission to build payments infrastructures to connect Africa to the global economy, announced on Wednesday it has joined force with global digital payments giant PayPal. Flutterwave reported that through the partnership, PayPal customers will be enabled to pay African merchants in the continent through Flutterwave’s platform.
According to Flutterwave, the collaboration with PayPal will be instrumental in supporting small businesses and freelancers to overcome the many challenges currentlypresented by the highly fragmented and complex payment and banking infrastructure, as well as connecting them with more than 377 million PayPal account holders globally. Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, shared more details about the partnership by stating :
“By working with PayPal, we can further strengthen our commitment to our customers and service users as we will be enabling them to transact and expand their business operations to reach new markets. PayPal’s global reach is unrivalled and collaborating with them allows our customers to explore new markets where PayPal is embedded.”
As previously reported, Flutterwave stated it creates the infrastructures by building technology and tools for both businesses and banks that want to provide a “more seamless and secured” payment experience for their customers.
“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.”
The partnership with PayPal comes just weeks after Flutterwave secured $170 million through its Series C funding round, which was led by growth-equity firms Avenir Growth Capital and Tiger Global Management LLC with participation from new and existing investors. The Series C brings Flutterwave’s total funding to $225 million. Since its inception, Flutterwave added it has processed over 140 million transactions worth over $9 billion worldwide and continues to expand its footprint to ensure consumers and merchants receive the best-in-class digital payment service.
