Flutterwave Revenue, Valuation, Funding & Investors
Flutterwave is valued at $3.3B as of June 2026.
Last Flutterwave valuation
$3.3B
Series E · Jun 2026
Last Flutterwave funding round
Undisclosed stage
Amount undisclosed · Jul 2026
Flutterwave revenue
$95M
Series D · Feb 2022
Key investors in Flutterwave
Y Combinator
Tiger Global
Greycroft
Glynn Capital Management
Avenir
Green Visor Capital
About Flutterwave
Flutterwave is a Lagos-based payment infrastructure provider serving merchants, fintechs, and enterprises across Africa. The company processes transactions via cards, bank transfers, mobile money, USSD, and QR codes in over 30 countries including Nigeria, Kenya, Ghana, and South Africa. Flutterwave delivers APIs for payment acceptance, payouts, and virtual cards through products like Send, Collect, and Rave. Partnerships with Visa, PayPal, and banks like Zenith enable cross-border payments and e-commerce solutions for businesses such as Jumia and Konga.
Founded
2016
HQ
LagosWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Commission
Revenue
$95M (Feb 2022)
Valuation
$3.3B (Jun 2026)
Flutterwave Valuation
Flutterwave is currently valued at $3.3B, based on its Series E in June 2026.
The round was led by Ripple.
Flutterwave's valuation has grown 3.3x from $1B at its Series C in March 2021 to $3.3B in June 2026, across 3 priced rounds.
Flutterwave valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2026 | Series E | $3.3B | - |
| Feb 2022 | Series D | $3B | 31.6x |
| Mar 2021 | Series C | $1B | - |
Flutterwave Revenue
Flutterwave's latest recorded revenue is $95M, as of its Series D in February 2022. At a $3B valuation, that implies a 31.6x revenue multiple.
Flutterwave revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Feb 2022 | $95M | $3B | 31.6x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Flutterwave Funding History
Flutterwave has raised a total of $474M across 8 funding rounds.
Flutterwave's first fundraising round was a $200K seed round in August 2016. The most recent completed round was a undisclosed-stage round in July 2026.
Flutterwave funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2026 | Undisclosed stage | Circle Ventures (lead) | - | - | - |
| Jun 2026 | Series E | Ripple (lead) | - | $3.3B | Flutterwave, Africa's leading payments infrastructure company founded in 2016, closed its Series E funding round on June 17, 2026, with a post-money valuation of $3.2 billion. Ripple, the US-based blockchain payments giant, participated as a strategic investor in the round, though the specific investment amount was undisclosed. The deal cements Flutterwave's status as Africa's most valuable fintech and signals continued institutional appetite for cross-border payment infrastructure on the continent. Strategically, the partnership integrates Ripple's USD-denominated stablecoin RLUSD, its payments network, and the XRP Ledger (XRPL) into Flutterwave's payment infrastructure to enable faster, lower-cost cross-border transactions, while connecting both networks via a unified API. This collaboration aims to bring Ripple's remittance speed and efficiency to cross-border transactions across Africa, reinforcing the region's shift from a 'testing ground' to the 'forefront' of global payment infrastructure. Flutterwave has raised over $500 million to date and processed more than one billion transactions valued at over $50 billion, positioning the company to unlock massive economic potential for SMEs and global enterprises operating across Africa. |
| Feb 2022 | Series D | B Capital (lead); Alta Park Capital; Salesforce Ventures; Lux Capital; Singularity Investments; Green Visor Capital; Tiger Global; Avenir; Whale Rock Capital Management; Glynn Capital Management; Chaos Ventures | $250M | $3B | Flutterwave is a leading fintech company that provides a platform enabling cross-border payments for businesses in Africa and emerging markets through a single API, processing transactions across 34 countries. It serves major clients like Uber, Microsoft, Booking.com, and Flywire, and offers products such as Flutterwave Market for online merchant sales and Send for remittances launched in late 2021. By February 2022, the company had processed over 200 million transactions worth more than $16 billion and served over 900,000 businesses globally, up from 140 million transactions and $9 billion in March 2021. On February 16, 2022, Flutterwave closed a $250 million Series D funding round led by B Capital, with participation from Alta Park Capital, Avenir, Chaos Ventures (or Flourish Ventures per some sources), Glynn Capital Management, Green Visor Capital, Lux Capital, Salesforce Ventures, Singularity Investments, Tiger Global, and Whale Rock Capital Management. This round valued the company at $3 billion post-money, making it Africa's highest-valued startup at the time and bringing total funding to approximately $509.5 million. The funds were earmarked for customer acquisition in existing markets, growth via M&A, product development, and innovations, with further details shared at the Flutterwave 3.0 event on February 18, 2022. Traction included rapid growth in its ecommerce solution to over 30,000 merchants by February 2022 and early success with Flutterwave Send, which processed 4,700 transactions worth $3.6 million in its first full month. Partnerships with PayPal, MTN, Airtel Africa, and others supported financial inclusion via customizable APIs. Later 2024 figures indicate $95 million revenue derived from fees on payments processing, remittances, and enterprise operations against high GMV. The $3 billion valuation drew discussion on justification given transaction volumes, with analysts noting potential in combined payments and remittances markets, comparable to peers like Wave. Investors viewed it as positioning for further multiples growth amid Africa's fintech expansion. |
| Mar 2021 | Series C | Avenir (lead); Tiger Global (lead) | $170M | $1B | Flutterwave, founded in 2016 by Olugbenga Agboola, is a Nigeria- and U.S.-based payments technology company with offices in Lagos and San Francisco that enables businesses to build customizable payments applications through APIs, serving blue-chip customers like Uber, Facebook, Alipay, and Wise, as well as nearly 300,000 entrepreneurs and smaller merchants across Africa. The company simplifies fragmented payments infrastructure in Africa, processing billions of dollars in transactions. On March 9-10, 2021, Flutterwave closed a $170 million Series C funding round co-led by Avenir Growth Capital and Tiger Global Management, with participation from DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Partners, Salesforce Ventures, Tiger Management, Worldpay FIS, and 9yards Capital, bringing total funding to $225 million and valuing the company at over $1 billion, making it one of Africa's first fintech unicorns. This round followed a $35 million Series B and $20 million Series A, amid accelerated digital payments shift due to Covid-19, with the company reporting 226% CAGR revenue growth from 2018-2020 and employing over 300 staff. Investors highlighted Flutterwave's innovation in payments technology and potential for global expansion, positioning it as a leader in connecting merchants intra-Africa and worldwide. |
| Jan 2020 | Series B | Greycroft (lead); Headline (lead) | $35M | - | Flutterwave, a San Francisco-based payments technology company with operations in Africa, closed a $35 million Series B funding round on January 21, 2020, co-led by Greycroft and eVentures, with participation from CRE Ventures, FIS, Visa, Green Visor, Endeavor, Fintech Collective, 9 Yards Capital, 4DX Ventures, and Y Combinator Continuity. The funding aims to support expansion into Francophone and North Africa, strengthen positions in existing markets, and provide frictionless payment solutions for merchants, banks, and consumers to simplify payments. At that time, Flutterwave had processed over 100 million transactions worth more than $5.4 billion globally for clients like Uber and Booking.com, and over $8 billion across 110 million transactions in some reports. The round brought Flutterwave's total funding to nearly $60 million, following prior raises including a Series A. Flutterwave builds APIs for cross-border payments, enabling businesses in and outside Africa to transact seamlessly via one API. It serves international clients such as Booking.com, Flywire, and Uber, positioning it as one of the fastest-growing payments companies globally. Later rounds provide context: a March 2021 Series C raised $170 million at over $1 billion valuation, followed by a February 2022 Series D of $250 million tripling valuation to over $3 billion, led by B Capital Group with others, bringing total funding over $475 million. These milestones highlight Flutterwave's rapid growth, becoming Africa's highest-valued startup at $3 billion, processing over $16 billion in 200 million transactions across 34 countries by 2022, serving 900,000 businesses. Competitive context includes other African fintechs like OPay and Chipper Cash, both at $2 billion valuations. The company continues leveraging funds for product development, customer acquisition, and M&As. |
| Oct 2018 | Series A | CRE Venture Capital; CV Catalyst Fund; FinTech Collective; Mastercard; 4DX Ventures; Musha Ventures; Raba Partnership | $9M | - | Flutterwave raised funding in 2018, including a $20 million Series A round, though specific details on post-money valuation for the round with investors 4DX Ventures, CRE Venture Capital, CV Catalyst Fund, FinTech Collective, Mastercard, Musha Ventures, and Raba Partnership are not detailed. In 2018, Flutterwave experienced 550% growth in the customer base for its Flutterwave for Business product (Rave), serving 26,000 businesses and retaining partnerships with customers like Uber, Arik Air, Booking.com, and Flywire. The company expanded product features, connecting Rave to accounting tools like Xero, Quickbooks, Sage, and Zoho, and launched a new checkout button. |
| Jul 2017 | Series A | Green Visor Capital (lead); Greycroft (lead); Flourish Ventures; Y Combinator; LoftyInc Capital; HOF Capital; Reshape Ventures; Glynn Capital Management | $10M | - | - |
| Aug 2016 | Seed | Y Combinator (lead) | $200K | - | - |
Who has invested in Flutterwave?
27 investors have backed Flutterwave across its funding rounds, including Y Combinator, Tiger Global, Greycroft, Glynn Capital Management, Avenir and Green Visor Capital.
Lead investors include Circle Ventures, Ripple, B Capital, Avenir, Tiger Global and 4 other investors.
Flutterwave Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 San Francisco, CA | 2 | Lead | Aug 2016 | |
| New York City, NY | 2 | Lead | Jul 2017 | |
| San Francisco, CA | 2 | Lead | Jul 2017 | |
| New York City, NY | 2 | Lead | Mar 2021 | |
| New York City, NY | 2 | Lead | Mar 2021 | |
| San Francisco, CA | 2 | Participant | Jul 2017 | |
| San Francisco, CA | 1 | Participant | Feb 2022 | |
| San Francisco, CA | 1 | Participant | Feb 2022 | |
| San Francisco, CA | 1 | Participant | Jul 2017 | |
| New York City, NY | 1 | Participant | Oct 2018 | |
| Lagos | 1 | Participant | Jul 2017 | |
| New York City, NY | 1 | Participant | Feb 2022 | |
| Lagos | 1 | Participant | Feb 2022 | |
This data is available for Pro users. Sign up to see all 27 Flutterwave investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Flutterwave
Flutterwave has acquired 3 companies to date.
Last acquisition by Flutterwave was on December 20th 2025. Flutterwave acquired Mono for $40M.
Latest Acquisitions by Flutterwave
| Description | Mono is a financial infrastructure provider granting African businesses API access to bank data, payments, and identity verification. Lagos-based, it serves startups and enterprises across Nigeria, Kenya, and South Africa, powering apps like PiggyVest and SeamlessHR. The platform supports direct debits, transaction histories, and KYC, driving economic inclusion for 10 million-plus linked accounts. | Disha is a mobile-first website builder tailored for Nigerian businesses and creators seeking to establish online presence without technical expertise. The Lagos-based platform offers drag-and-drop templates optimized for smartphones, enabling rapid deployment of professional sites for e-commerce, portfolios, and services. Users access hosting, domain registration, and SEO tools directly from Android and iOS devices, supporting the shift from desktop-heavy tools in Africa's growing digital economy. | - |
| HQ Country | | |  |
| HQ City | Lagos | Lagos | - |
| Deal Date | 20 Dec 2025 | 10 Nov 2021 | 1 Jun 2020 |
| Valuation | $40M | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Flutterwave acquisitions and their M&A valuation multiples. Start Free Trial | |||
Investments by Flutterwave
Flutterwave has invested in 2 companies to date.
Latest investment by Flutterwave was on February 13th 2024. Flutterwave invested in Piggyvest in their $3M Seed round.
Latest Investments by Flutterwave
| Description | Piggyvest is a Nigerian fintech platform automating savings and investments for individuals and businesses via debit card round-ups and scheduled withdrawals. Lagos-headquartered since rebranding from Piggybank.ng in 2018, it holds a microfinance license and partners with AIICO Capital for fund management through piggyvest.com. | - |
| HQ Country | |  |
| HQ City | Lagos | - |
| Deal Date | 13 Feb 2024 | 8 Dec 2021 |
| Round | Seed | Seed |
| Raised | $3M | $2M |
| Investors | - | Africa Venture Labs; 4DX Ventures; Damien Guermonprez |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Flutterwave investments and their VC round multiples. Start Free Trial | ||
Flutterwave Competitors
Flutterwave competitors include listed companies like Kakaku.com, Ziff Davis, QuinStreet and SMZDM.com, and private ones like OPay and Uzum.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Lagos | Private | $38M | - | $2.8B | 73.7x | |
 Tashkent | Private | $691M | - | $2.4B | 3.5x | |
 Japan | Publicly listed | $605M | $175M | $4.8B | 7.0x | |
| United States | Publicly listed | $1.5B | $335M | $2B | 1.0x | |
| United States | Publicly listed | $1.3B | $61M | $1B | 0.7x | |
 China | Publicly listed | $192M | $19M | $1B | 4.7x |
Flutterwave Public Comps
Flutterwave is still privately-owned, but its public comps include Shift4 Payments, SMG Swiss Marketplace Group, Seek, Goto Gojek Tokopedia, Inchcape, People, Mercari, Travel+Leisure, Kakao Pay and PagSeguro.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.2B | $758M | 1.8x | 3.2x | 10.0x | 6.9x | |||
| $404M | $175M | 8.4x | 7.7x | 19.5x | 13.9x | |||
| $914M | ($63M) | 4.2x | 4.5x | (61.7x) | 10.2x | |||
| $1B | ($16M) | 2.0x | 1.7x | (125.5x) | 13.1x | |||
| $12B | $867M | 0.4x | 0.4x | 5.4x | 5.0x | |||
| $2.4B | $122M | 1.3x | 1.6x | 25.4x | 11.3x | |||
| $1.5B | $282M | 2.4x | 2.4x | 12.7x | 11.7x | |||
| $4B | $684M | 2.3x | 2.3x | 13.6x | 8.9x | |||
This data is available for Pro users. Sign up to see all Flutterwave competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Flutterwave
| When was Flutterwave founded? | Flutterwave was founded in 2016. |
| Where is Flutterwave headquartered? | Flutterwave is headquartered in Lagos, Nigeria. |
| Is Flutterwave publicly listed? | No, Flutterwave is a private, VC-backed company. |
| What is Flutterwave's valuation? | Flutterwave was last valued at $3.3B in its Series E in June 2026. |
| How much funding has Flutterwave raised? | Flutterwave has raised $474M across 8 funding rounds. |
| What was Flutterwave's last funding round? | Flutterwave's last funding round was a undisclosed-stage round in July 2026, led by Circle Ventures. |
| Who are Flutterwave's investors? | Flutterwave's investors include Y Combinator, Greycroft, Green Visor Capital, Tiger Global, Avenir, Glynn Capital Management, Alta Park Capital, Salesforce Ventures, Flourish Ventures, CRE Venture Capital and 17 others. |
| What is Flutterwave's revenue? | Flutterwave's latest recorded revenue is $95M (February 2022). |
| What is Flutterwave's revenue multiple? | Flutterwave's latest valuation implies a 31.6x revenue multiple ($3B valuation on $95M of revenue). |
| Which companies are comparable to Flutterwave? | Companies comparable to Flutterwave include OPay, Uzum, Kakaku.com, Ziff Davis, QuinStreet and SMZDM.com. |
| How many companies has Flutterwave acquired? | Flutterwave has acquired 3 companies, including Mono, Disha and Pennysmart. |
| What was the largest acquisition by Flutterwave? | The $40M acquisition of Mono in December 2025 is the largest acquisition Flutterwave has made to date. |
| How many companies has Flutterwave invested in? | Flutterwave has invested in 2 companies, including Piggyvest and CINETPAY. |
| What was Flutterwave's last investment? | In February 2024, Flutterwave invested in Piggyvest's $3M seed round. |
See companies similar to Flutterwave
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="28" height="28" viewBox="0 0 28 28"><rect fill="%23e5e7eb" width="28" height="28" rx="6"/></svg>){kind=small}
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.