Flutterwave partners payments giant PayPal
Nigeria’s fintech firm, Flutterwave, has announced a landmark partnership deal with United States payments giant, Paypal.
This was disclosed in a tweet Tuesday by Flutterwave’s founder and CEO – Olugbenga Agboola.
He wrote: “As we build the largest payment infrastructure in Africa @theflutterwave, we also know that Africa does not exist in isolation. We need to connect Africa to the world when it comes to payments and we took a closer step to that today.
“Today, we are announcing an important step towards achieving our mission and goals. We @theflutterwave have collaborated with @PayPal to allow businesses in Africa receive payments from over 377 million @PayPal users all over the world.”
Thanks to the partnership, PayPal users anywhere in the world can now pay directly to African merchants through Flutterwave, removing the “restriction for African merchants to accept PayPal because once you have @theflutterwave for business, PayPal is now one of your payment types,” Agboola added.
Following the new deal, small business owners and freelancers who use Flutterwave in places like Kenya, South Africa, Egypt, Morocco, Mauritius, Malawi, Mozambique and Senegal will be able to accept payments from PayPal users worldwide.
This comes a week after Flutterwave secured a remarkable turnaround in Series C funding round from a leading group of international investors led by New York-based private investment firm, Avenir Growth Capital and U.S. hedge fund and investment firm, Tiger Global.
As a result, the market value of Flutterwave rose to over $1 billion (N381,250,000) after closing the $170m – said to be the largest amount ever secured by any African outfit.