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Flutterwave closes $170m funding, recognises role of favourable regulatory environment in growth

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Flutterwave, Africa’s leading payments technology company, has announced a USD 170 million fund secured from a leading group of international investors. 
   
This is part of a successful Series C round, led by growth-equity firms Avenir Growth Capital and Tiger Global Management LLC with participation from new and existing investors.
   
The funding is coming on the backdrop of their USD35 million Series B funding raised in January 2020. This round of funding brings the total investment in Flutterwave to USD225 million, making the firm one of the few African fintech companies to have raised significant funds in a period of widespread disruption and economic uncertainty.
   
Flutterwave has recorded exceptional revenue growth of 226 per cent CAGR from 2018-2020 – thanks to a favourable regulatory landscape, enabled by the CBN under Gov. Godwin Emefiele.

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