Biography Of Olugbenga Agboola (Age , Wife , Net Worth) - Flutterwave, a Nigeria-based technology startup led by top tech entrepreneur Olugbenga Agboola, has secured $250 million in a Series-D funding round, more than doubling the company’s net value in less than a year.
Flutterwave is a payments technology firm based in San Francisco with activities and locations across Africa and Europe. Flutterwave was founded over two years ago with the objective of developing digital payments infrastructure for Africa and enabling companies to accept or make payments anywhere in Africa and across the world. Flutterwave has processed over $2B across all product platforms in two years of operation and has received numerous important accolades, including The Asian Banker’s “Best Technology Platform” and the “Top 100 Fintech Firms,” among others.
Gbenga is a Project Coordinator with extensive experience in project management and delivery. He has completed various projects on schedule and under budget. One of the qualities I like about him is his ability to motivate both his team members and his clients. I had a great time working with him and look forward to doing so again.
The funding round, which saw the fintech startup become Africa’s most valuable firm with a valuation of more than $3 billion, comes nearly four months after Agboola, the company’s CEO, said that it was in talks with investors for additional capital at a $3 billion valuation.
B Capital Group, a multistage global investment firm created in 2015, led the $250 million capital infusion; additional institutional investors that participated in the recently completed fundraising round included Alta Park Capital, Whale Rock Capital, and Lux Capital, among others.
Increased investment in the IT tiger recognizes African talent, innovation, and the continent’s vibrant youthful population.
The extra investment, according to sources close to the deal, will help the firm grow and expand as it continues to capitalize on opportunities in the African digital ecosystem while encouraging new ideas in the development of its goods and services.
Since its beginning in 2016, Flutterwave has been on a mission to create limitless possibilities for customers and businesses in Africa and developing countries, leveraging on the fast adoption of technology in Africa to build a powerful brand that now serves over 900,000 businesses globally.
The Series-D fundraising follows a fantastic five-year run in which Flutterwave processed over 200 million transactions totalling more than $16 billion across 34 African countries.
“Our narrative is one of resilience and hard effort,” Agboola said. Our success has been made possible by the backing of our clients, partners, banks, the general public, regulators, and, most significantly, our employees.”
He went on to say that the latest funding round, which demonstrates some of the world’s leading investors’ belief in the firm’s business model and the African technology market, will provide Flutterwave with much-needed support to deliver on its plans to provide the best experience for merchants and customers worldwide.
Flutterwave was formed in 2016 by Agboola and Iyinoluwa Aboyeji, who have since dominated the digital scene as top tech founders and startup investors.
The company announced the completion of a $170 million Series-C funding round in March, bringing its worth to more than $1 billion.
With a $3 billion value, Flutterwave surpasses Jim Ovia’s Zenith Bank and Segun Agbaje’s Guaranty Trust Holding as not just Africa’s most valuable startup, but also the most valuable corporation in Nigeria’s financial services industry.
Its $3 billion valuation raises additional doubts about Agboola’s personal fortune, which many believe is in the billions due to his stake in the digital unicorn.
Flutterwave, a Nigerian finance company, has finalized the purchase of Disha, a platform that allows digital artists to organize, display, and collect compensation for content internationally.
According to a statement issued by the Lagos-based fintech unicorn, the acquisition aims to grow the creator economy, particularly in Africa, and to provide digital content creators with the tools and templates they need to showcase their products and talent while receiving value for their creativity.
The acquisition comes following social media rumors that the financial unicorn had purchased the two-year-old platform after a social media user saw Disha’s FAQs on Flutterwave’s support docs, implying that the unicorn business had acquired the company.
The Flutterwave-Disha partnership will allow digital producers and creatives the ability to do business with anybody, wherever in the world, by giving users access to unique capabilities that will ease the process of accepting payments from audiences and customers via Flutterwave.
Evans Akanno, Rufus Oyemade, and Blessing Abeng established Disha in 2019. The firm is a well-known African platform that allows producers to receive and make Disha withdrawals in 150 currencies throughout the world.
Olugbenga Agboola’s Net worth is valued at $66 Million.
Since its inception two years ago, the site has attracted over 20,000 members organically.
According to Billionaires.Africa, Flutterwave Founder and CEO Olugbenga Agboola stated that the purchase is an exciting attempt to provide the international creator community of about 50 million people with unique tools to help them improve their art.
“We are happy to be assisting Disha in creating new possibilities for freelancers and artists throughout the world to promote and earn value for their ideas,” he added.
“At Flutterwave, we care about the Disha creators who have found a place for their work throughout the years.” That is why we are making such a significant commitment to continue to support their growth,” Agboola added.
“Flutterwave’s purchase will speed our road to become a vital toolset for artists from all over the world to promote and get compensated for their work,” said Disha Software and Architectural Lead Rufus Oyemade.
“The new payment tool will help creators, who will become significant actors in the global creative economy,” he says.
The purchase occurs during Flutterwave’s boom period, as the fintech business closed a $170 million Series-C investment round earlier this year, valuing the company at more than $1 billion.
The Nigeria-based payment network is in discussions with investors about launching a new investment round to increase its worth above $3 billion.
Leave a Reply