Flutterwave, Africa’s most valuable fintech company, has raised a Series E round at a $3.25 billion valuation after an investment from Ripple, a United States-based blockchain payments company.
Flutterwave declined to disclose how much Ripple invested.
“Ripple did invest significantly in Flutterwave, an actual cash investment, so they are now an equity shareholder of the company,” Olugbenga “GB” Agboola, Flutterwave’s founder and chief executive, told TechCabal on a call on Monday.
Ripple’s investment marks Flutterwave’s latest move into stablecoins as both companies integrate RLUSD, Ripple’s stablecoin, into Flutterwave’s payment infrastructure, allowing the African payments giant’s merchants and consumers to send, hold, and convert money using stablecoins.
Agboola said three factors led Flutterwave to choose Ripple: its technology infrastructure, regulatory credibility, and the ability to move money more cheaply and quickly across borders.
