Flutterwave extends Series A with strategic backing from Mastercard and global VCs

Flutterwave, a Nigerian fintech startup headquartered in San Francisco, has closed a Series A extension round backed by Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures, Raba Capital and other investors. With this extension, Flutterwave has now raised over $20m to date.

The company is building modern payments technology and infrastructure for Africa, aiming to enable people and businesses on the continent to connect seamlessly with the global economy. Its API is used by almost 24,000 businesses and individuals to process payments across multiple African markets.

Flutterwave’s largest investors to date include Green Visor Capital and Greycroft Partners. As part of the latest financing, Green Visor Capital Chairman & General Partner and former Chairman & CEO of Visa, Joe Saunders, has joined the Flutterwave Board of Directors, strengthening the company’s governance and payments industry expertise.

The firm positions itself as building Pan-African infrastructure at a time when the continent is leapfrogging traditional payments technology, similar to its path in mobile communications. The African market’s rising cross-border commerce, multi-instrument and omnichannel payment needs, and ongoing push for financial inclusion provide a backdrop for Flutterwave’s expansion.