Flutterwave Raises $35M Series B for African Payments Infrastructure

Flutterwave, a Nigerian fintech providing API-based digital payments infrastructure, raised $35M in a Series B round in January 2020. The round was led by Greycroft and eVentures, with strategic participation from Visa, Green Visor Capital, CRE Venture Capital, Endeavor, and FIS (Fidelity National Information Services). Flutterwave's platform enables businesses to integrate payment processing across African markets through a single API, effectively serving as embedded payments infrastructure for both local and international companies operating on the continent.

The company processes payments across multiple African countries and supports various payment methods including cards, bank transfers, and mobile money. Visa's participation as a strategic investor underscored the growing importance of embedded payment rails in underserved markets. FIS's involvement further connected Flutterwave to the global financial services technology ecosystem.

The funding was earmarked for expanding Flutterwave's presence across Africa and strengthening its payments technology stack.