Flutterwave: Championing Digital Payments in Africa

My name is Mikal — I’m an early-stage tech investor and I was born in Asia, grew up in Africa and now live in the US. Every week I break down a fast-growing business in an emerging market to understand its product, market and growth strategy.

This week I’m breaking down African B2B payments startup Flutterwave. This article was originally published here.

The digitization of payments is a lucrative opportunity that entrepreneurs across the world are chasing after. In Africa, where a large percentage of the population remains unbanked and the penetration of credit and debit cards low, this opportunity is particularly large. The soaring number of smartphone users on the continent combined with growing pressure to adopt new technologies has created a special moment for fintech in Africa. Numerous companies are working on digitizing payments in Africa but one of the most prominent companies working on this challenge is Nigerian fintech Flutterwave.

Flutterwave is a financial technology company providing payment solutions, invoicing solutions and ecommerce capabilities to merchants in Africa, helping them digitize the full-cycle of payments. Flutterwave was founded in 2016 and since then has grown rapidly:

• $9 billion in transactions processed to date