After $1bn valuation, Flutterwave partners Paypal to boost Africa’s online payment

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AFTER hitting $1 billion valuation, Flutterwave, a leading fintech firm, has announced a strategic partnership with PayPal, an online global payment platform. The partnership is geared towards facilitating online payments in Africa.

With the partnership, Nigerians and other Africans can now receive payments with their PayPal account through Flutterwave.

In a series of tweets on Twitter, Flutterwave said the partnership would enable over 377 million customers to bridge infrastructural weakness in doing business within Africans and the world.

The firm, in a tweet, said: “As we build the largest payment infrastructure in Africa @theflutterwave, we also know that Africa does not exist in isolation.

“We need to connect Africa to the world when it comes to payments and we took a closer step to that today.

“All Paypal users can now pay African businesses from anywhere in the world, on our gateway. We’re excited to be opening up a world of opportunities for businesses in Africa!”

This latest announcement is another big step in the fintech industry after Paystack was acquired last year.

Flutterwave secured $170 million from investors last week to expand its customer base. The fintech firm hit $1 billion valuation last week, putting it in the class of unicorn start-ups.

“We are thrilled to share news of our 170 million dollar #SeriesC funding which will be crucial in improving our technology, product, customer support, and expansion drive,” Flutterwave said on its Twitter handle last Wednesday.

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“The company’s valuation is now more than 1 billion dollars. The fundraise brings the total investment in Flutterwave to $225 million,” the company said in a separate statement seen by The ICIR.


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