On March 10th, a Wednesday, Twitter tech in Africa’s major cities bubbled into inspiration broth quotes with hot takes as Flutterwave became a topic and started trending in Nigeria before ten a.m. when the tweets had reached ten thousand. The focus was on Olugbenga Agboola, the founder of fintech startups with three hundred employees across Lagos and San Francisco.
Flutterwave was founded in 2016 by Agboola and Lyinoluwa Aboyeji. A former Google engineer and product manager, PayPal have led African startups to unicorn status faster than at any other time in history. Adumo, Diool, Stich, and Tyme Bank were to open the twenty-one floodgates. Flutterwave’s unicorn status was applauded for its product adoption and growth in Africa, which was a grand celebration of the investors’ role in the ecosystem and startup building.
To break the bias we have to understand the bias. We decided to talk about it with Dumebi, Segilola, Stella, Jo Sharon, Onyinye & Adesoye of Flutterwave & @_DammyB_ as they share their personal experiences.
Happy International Women’s Day!
🎥: https://t.co/W9eyhrOrRe pic.twitter.com/HP62rLDGKJ
— Flutterwave (@theflutterwave) March 8, 2022
Flutterwave’s plans could have taken place with or without individuals, as well as the signed firm checks that were used to back up the roughed-edges ambitions and ideas. According to Olugbenga Agboola, the writing on the company’s blog that week was about how they would not have gotten to where they are now if they had not received Series A funding. Flutterwave received a grant from accelerator programs, angel investors, private equity firms, and venture capital.
After the launch of Flutterwave in August, it became one of two startups of African accepted into the Ycombinators accelerator program. Zachariah George invested in Flutterwave after being introduced by network alums YC’s and Stanford. He became convinced that their solutions would make it easier for African merchants to make payments and receive. He had invested in the early stages of African startups and led the Startup Bootcamp Africa division.
George stated that having global investors who have previously backed up Fintechs could increase confidence in banks and insurance companies as there would be a greater need to work with you. It was best for Flutterwave to receive support from Big Tech companies with Africa’s back. Following the investment of Mastercard, which partnered with VISA, the creation of GetBarter could transfer money and the app of management financially.
Flutterwave decided to partner with Ant’s Group for China-Africa payments after Olugbenga Agboola chose to participate in the fellowship of eFounders. This program was training the founders by Alibaba, the parent company of Ant Group.
Agboola stated that there would be opportunities for current investors in the company to acquire capital that would yield more in return as he would list Flutterwave in exchange for New York stock. The open IPO provided a fantastic opportunity for fundraisers. This could enable Nigerians to access FLTW via investment apps such as Bamboo, Rise, and Trove.
Twiga Foods, Gidi mobile, and Jumo was the first African startup to join the Google Launchpad accelerator. The training in San Francisco was for receiving the cohort support that was to be equity-free and the Google product credits that were to mentor experts even after the program ended. There was a growth of Google startups to more than twenty African startups in 2020 as for the restrictions of the covid-19 pandemic held online, Agboola’s Linkedin.