Businesses across Africa can thrive and make the most of investments from abroad without much stress. A report released by the World Bank earlier in 2018 revealed that Nigeria accounts for 30 percent of diaspora remittances ($22 billion), followed by Egypt ($20 billion). New technologies have no doubt impacted positively to this trend through quick and easier mode of transaction. Flutterwave, like many start-ups began with a big picture in mind. Now it's grown to take on Silicon Valley.
"Our mission is to inspire a new wave of prosperity across Africa by building payments infrastructure to connect Africa to the global economy."
"We’ve made it easier for Africans to build global businesses that can make and accept any payment, anywhere from across Africa and around the world. The world’s digital economy is progressing around us and we want to include African businesses in the journey."
Founded in 2016 by a team of ex-bankers, entrepreneurs and engineers, Flutterwave provides the award-winning technology core needed to provide business all around the world a powerful, reliable and intelligent payments gateway. We stay ahead of the industry by challenging our products and improving on every feature we offer. With its headquarters in San Francisco, Flutterwave is noticeably present in Lagos, Nairobi, Accra, and Johannesburg.
It has been able to successfully build integrations with all the major online tools like Shopify, WooCommerce, and QuickBooks. Trust investors, when a start-up has that much potential, such that it has the capacity to solve a problem, it surely won't lack the capital for rapid expansion. Greycroft Partners and Green Visor have led a Series A funding round of over $10 million in Flutterwave. They will be investing alongside existing investors like Y Combinator and new investors like Glynn Capital. That was in 2017. No wonder, it has continued to grow and according to the Managing Director, 27-year old Iyinoluwa Aboyeji, the vision is to have a single online currency for Africa.
If you think that's a tall dream, consider the fact that billions of dollars had been transacted on this platform, with millions subscribing. "You can sell to someone in Ghana from Nigeria and he pays you in Cedi but the money shows in your bank account in Naira, in real-time. All the regulatory, cross-border issues, are all complied with, but importantly invisible to you.
There is no ambiguity on this vision, if you read carefully the press release: “Flutterwave’s global payments solutions will make it easier for Africans to participate in the digital economy so you can make and accept payments for whatever you want, in whatever currency or payment method you want, across the globe," a statement on the company's website reveals.
Iyinoluwa Aboyeji is a success story of passion that we must celebrate, knowing fully well that a slag in technological innovations is a call to future slavery of African continent; not again!
A Sierra Leonean woman, Sandra Musujusu, is on the cusp of something big.
Header Image: Flutterwave.com