Africa’s largest fintech company, Flutterwave, has recorded an astonishing 23-fold increase in the usage of its newly revamped SendApp in comparison to 2022.

The new feat was disclosed by the company when its founder, Olugbenga Agboola, granted an interview with Bloomberg in London on Monday.

Flutterwave announced the enhancement of its $end Mobile product, now Send App by Flutterwave, on August 2, 2023, to facilitate faster, easier, and more affordable money transfers from people in the diaspora to their families, friends, and loved ones in Africa.

The rebranding comes at a time when remittances to the continent have doubled over the last decade–reaching an estimated $100 billion in 2022, according to the United Nations, supporting the medical bills, school fees, and living costs of an estimated 200 million relatives in Africa.

While speaking in London, Agboola expressed his delight in the continuous growth while reiterating the planned public listing of the company.

The company’s payments through point-of-sale (POS) devices rose more than fivefold and revenue in its small and medium business unit jumped almost fourfold.

The founder assured that the Initial public offering (IPO) would be done as soon as the market stabilises.

“The markets aren’t great right now,” he said.

Agboola stated that the company needs to attract global clients and the public listing is the right way to ensure that.

“There’s some kind of customers we’ll attract when we are public.

“The large global clients who need you to have the same level of compliance and level of global view that they have.”