What is Flutterwave? Flutterwave Review

Basic Information

Flutterwave was launched in 2016, founded in Nigeria and headquartered in San Francisco.

Customers can use its API (application programming interface) and work with Flutterwave developers to customize payment applications. Current customers include Uber, Facebook, Booking.com and e-commerce unicorn Jumia.com. Company data shows that Flutterwave has processed $2.6 billion in transactions since its inception.

Business Introduction

1. Collect payments in over 150 currencies.

As a business owner, you can collect payments from your customers in over 150 currencies including Naira, USD, GBP, EUR, and CNY.

This means you can expand your business and reach customers not only in your local vicinity but also outside of it.

2. Reduce transaction rejections and increase sales.

Now you can enjoy higher turnover because we’ve connected your customers’ preferred payment methods – cards, bank accounts and mobile wallets.

Reach more people with more payment options

With little effort, eliminate business boundaries and reach more customers with just one platform.

3. Beautiful, smart and secure checkout.

Provide your users with the most seamless and enjoyable online payment experience. By enabling a variety of payment methods on Flutterwave, your business can meet the needs of all your customers.

• A fast, secure and seamless checkout experience.

• Supports Android, iOS and desktop.

• Various payment methods are allowed, including bank transfer.

• Compatible with eCommerce stores like WooCommerce and Shopify.

4. Ensure safety.

At Flutterwave, we take security very seriously, so every payment made on the platform is 100% secure, exceeding even industry standards.

• ISO 27001 and 22301 certification

ISO 27001 and 22301 certifications mean we have acceptable business practices and processes in place, including a robust business continuity plan.

• PA DSS and PCI DSS compliant

This certification proves that Flutterwave has met the highest level of security audits as a payment gateway processor.

Corporate Culture

Core Values: Customer-centric, Building Trust, Loyalty, Communicating Respectfully, Creativity and Innovation

Mission: Flutterwave's mission is to simplify payments and enable endless possibilities.

Vision: Flutterwave’s vision is to make it easier for Africans to build global businesses that can pay and accept any payment from Africa and around the world.

Development History

From May to August 2016, Flutterwave received a total of US$170,000 in seed round investment from Arab Angel Fund, Y Combinator, Lynett Capital, Green Visor Capital, CRE Venture Capital and VC FinTech Accelerator.

On July 31, 2017, Flutterwave, a Nigerian African payment system company, received a $10 million Series A funding round led by Green Visor Capital and Greycroft Partners, with participation from Alrai Capital, Glynn Capital Management, Y Combinator and HOF Capital. This round of funding will be used to expand Flutterwave's business scope in Africa and recruit more talent.

Flutterwave completed a US$20 million Series A financing in October 2018, led by GreenVisor and Greycroft, with participation from MasterCard and others.

In July 2019, Flutterwave reached a cooperation with Alipay to facilitate digital payments between China and African countries.

In January 2020, African fintech company Flutterwave completed a $35 million Series B financing and announced a partnership with European payment giant Worldpay, which was acquired by US financial services provider FIS for $350 billion in March last year, to provide payment services to Africa. This round of financing was led by Greycroft and eVentures, with VISA, FIS, CRE Venture Capital and Green Visor also participating.

In June 2020, Uber launched its Uber Cash digital wallet feature in sub-Saharan Africa through a partnership with Flutterwave, a San Francisco-based fintech company headquartered in Nigeria.

References

• 1. Flutterwave received $10 million in Series A funding: 36kr [cited on 2017-07-31T16:00:00.000Z]
• 2. Alipay partner African fintech company Flutterwave received $35 million in Series B funding: Baijiahao [cited on 2020-01-07T16:00:00.000Z]
• 3. Flutterwave and Alipay reach cooperation to facilitate digital payments between China and African countries: Dongdian Global [cited on 2019-07-28T16:00:00.000Z]