Flutterwave raises $250M Series D led by B Capital at over $3B valuation

On February 16, 2022, Flutterwave announced the close of a $250 million Series D round led by B Capital Group, with participation from new investors including Alta Park Capital, Whale Rock Capital, and Lux Capital, as well as existing backers. The round more than tripled the company's valuation from $1 billion in its 2021 Series C to over $3 billion, at the time making it Africa's highest-valued startup.

The capital was intended to accelerate customer acquisition in existing markets, pursue M&A opportunities in Africa and the Middle East, develop complementary products, and drive innovation in its payments infrastructure. At announcement, Flutterwave had processed over 200 million transactions worth more than $16 billion across 34 African countries and served over 900,000 businesses.

As of 2026, the company has continued to expand, raising additional capital in a 2026 Series E at a $3.2–3.25 billion valuation with participation from Ripple, acquiring assets, securing a micro-banking license in Nigeria, and integrating stablecoins while maintaining its position as a leading African payments platform.

Flutterwave provides a cloud-based payments platform that simplifies cross-border and local transactions for businesses. It offers a single API for accepting payments in over 150 currencies via cards, mobile money, bank transfers, and other methods, while also providing tools for payouts, remittances, virtual cards, and checkout solutions.

The company serves over one million businesses globally, including enterprises such as Uber, Booking.com, and Microsoft, as well as SMEs and governments. It operates across more than 30 African countries with additional presence in North America, Europe, and other emerging markets. Revenue is generated primarily through transaction fees and value-added financial services.

Founded in 2016, Flutterwave has grown to process billions in transaction volume and expanded its offerings to include stablecoin integration, banking licenses in select markets, and M&A activity to consolidate payments infrastructure.