Flutterwave Series E Funding Hits $3.2bn Valuation With Ripple
Flutterwave’s latest funding milestone has cemented its place among Africa’s most valuable tech companies. The Nigerian payments giant has closed a Series E round that values the company at $3.2 billion, with Ripple, the global blockchain finance firm, joining as a new investor.
This Flutterwave Series E funding round comes four years after the company’s $250 million Series D in 2022, which tripled its valuation past $3 billion. Founded in 2016, Flutterwave has built one of the continent’s most relied-upon payment infrastructures, processing over $40 billion in transactions and powering more than 1 billion unique payments for businesses across Africa.
Ripple’s Stablecoin Bet on Africa
Ripple’s investment isn’t just financial backing, it’s strategic. The partnership plugs Flutterwave’s existing cross-border settlement systems into enterprise-grade digital liquidity, with Ripple’s RLUSD stablecoin set to move through Flutterwave’s network via the XRP Ledger. The two companies also plan to bring Ripple Payments’ speed to cross-border transactions across the region.
The timing matters. Flutterwave secured a Nigerian banking license earlier this year, and this fresh capital injection arrives as the company doubles down on its stablecoin-enabled payments roadmap.
Olugbenga “GB” Agboola, Flutterwave’s founder and CEO, called the round a pivotal moment, saying it positions the company to build what he described as a “payment superhighway” linking African commerce to the global economy.
Reece Merrick, Ripple’s managing director for the Middle East and Africa, said Flutterwave has built one of the continent’s most advanced payment networks, and that stablecoins are now central to where that infrastructure is heading.
For African fintech, the deal signals growing institutional confidence in stablecoin rails as the next frontier for cross-border payments, and reinforces Nigeria’s bid to become a hub for digital asset trade on the continent.
