The CEO and co-founder of Nigeria’s leading payment company, Flutterwave, Olugbenga Agboola, has told Reuters that it is considering listing in New York.
Flutterwave, a five-year-old company headquartered in San Francisco specialises in individual and consumer transfers recently raised $170 million from investors to expand its customer base.
The $170 million funding round was led by Avenir Growth Capital and Tiger Global Management LLC. and backed by venture capital firms Early Capital Berrywood, Green Visor Capital and Greycroft Capital and Paypal. The fund brings the total investments in Flutterwave to $225 million while pushing its valuation up to more than $1 billion.
Speaking to Reuters, Agboola said that “We may consider the possibility of listing in New York.”
He also mentioned that possibility of dual listing – in New York and Nigeria.
Flutterwave is one of several fintech groups aiming to facilitate and capitalise on a booming African payments market.
One of the partners at Avenir Growth Capital, Jamie Reynolds said “We are excited to support the team as they build the last available payments infrastructure frontier in the world – connecting merchants and consumers intra-Africa and globally.”
Prior to that the completion of this funding round, Flutterwave had announced a partnership with Visa and Worldpay. The funding as well as the partnerships underscore the attention that the payment market in Africa is gaining globally.