Flutterwave is a payment solution that has been revolutionizing the way people make and receive payments in Africa. It has been making waves since its launch in 2016 and has been in the forefront of the African tech scene ever since. How was Flutterwave able to disrupt the African payments industry as an African unicorn?
What is Flutterwave?
Flutterwave provides a seamless payment experience for both merchants and customers, while giving them both an easy way to pay and a better customer experience.
The company was founded by two Nigerian entrepreneurs -Iyinoluwa Aboyeji and Olugbenga Agboola- who saw the need for a new way to make payments in Africa. They wanted to create a system that would provide an alternative to cash transactions, which are expensive and risky. While also providing access to digital payments like credit cards or mobile money transfers.
Flutterwave was born in Lagos, Nigeria in 2016. It has since grown to become an African unicorn with headquarters in San Francisco, and offices in Lagos, Nairobi, Accra, and Johannesburg.
The Flutterwave platform offers the most advanced payment processing options in the market today. It has been designed to be integrated with the existing point of sale system and provide an easy, secure and frictionless payment experience for the customer.
With its proprietary technology, it can process payments in real-time without any wait time for confirmation or authorization from the bank or card issuer. This means merchants can seamlessly integrate their app with any online or offline channel they choose to accept payments. All this while still maintaining high levels of security and speed.
How did Flutterwave build the largest financial services network in Africa?
Flutterwave is a payments company that has been able to become an African unicorn by focusing on their strengths in the African market. It established itself as a leader thanks to its unique approach to payments. It provides users with creative payment experiences by using AI.
Flutterwave’s founders were able to see the potential of this new technology – the blockchain. They saw an opportunity to use it to change lives. Using their skills as financial experts, business strategists, and software developers, they created a platform that can help make Africa an economic powerhouse by offering users an alternative to credit cards, debit cards, and bank transfers.
While the main goal is to increase adoption for this technology by providing end-to-end security for digital transactions, Flutterwave also helps merchants save money on their transaction fees by offering a low processing fee.
Flutterwave’s $3 billion valuation raise a dust
The African fintech recently announced that it raised USD $250 million in Series D funding round. This tripled the company’s valuation to over $3 billion in just twelve months. As the brand continues to transform the way Africans transact on the continent and worldwide. Flutterwave has become the highest valued African unicorn with this investment.
Flutterwave is one of the few African companies that have successfully marketed themselves globally. Some of the biggest names in the tech industry like Uber and Microsoft have already adopted Flutterwave. The company aims to disrupt traditional banking services by offering a faster payment process that gives users more control over their money.
It has been able to achieve this success by leveraging the power of AI technology to deliver instant payments at scale across Africa and beyond. They are one of the first companies to use AI technology in Africa as they believe that it will revolutionize how people live their lives on the continent.
What makes the African unicorn Flutterwave so successful?
The company started off as an online payment platform for Nigerians. But as it grew, it began to expand into offline transactions. It now offers a full range of financial services including mobile money transfer, e-commerce payments, and digital wallet services.
Flutterwave has been able to build such a large network because they offer consumers an alternative payment method for their services – Flutterwave cards. These cards can be used for payments at most businesses that accept card payments in Nigeria.
The company offers a variety of other payment solutions including the Flutterwave wallet. It allows people to send payments anywhere in the world with just one click. They can also use it to make purchases at physical stores or even withdraw cash from ATMs. With this new technology, people can now enjoy security and convenience without having to worry about any fees or transaction time limits.
The service has an easy-to-use dashboard. Making it easier for businesses to set up their own payment system with minimal effort and time. It allows the merchants to process payments in real-time on the go. It also provides a unique and easy way for customers to pay using their mobile app, by taking advantage of the QR code and barcode scanning features.
Flutterwave is an open source platform that provides a flexible and customizable solution for developers and businesses looking to build their own payment processing system. One of the key benefits of Flutterwave is that it doesn’t need any coding skills. This makes it a great option for companies who are looking for a quick solution to their payment processing problems.
Big-name partnerships help Flutterwave to maintain itself as the leading payments technology company in Africa
Flutterwave’s payment platform has been designed with the aim of digitizing financial ecosystems in Africa and making them more efficient and convenient. The company’s goal is to make Africa one of the most connected regions in the world. In addition to providing access to digital financial services for all users. They have been able to achieve this through their partnerships with leading banks and telecoms providers, such as:
- The National Payments Corporation of Nigeria (NPC) which provides liquidity to the market.
- The United Bank for Africa (UBA) which offers its customers real time banking.
- Mobile Telephone Networks (MTN) which provides great connectivity for people in Africa.
Flutterwave’s solutions for small-to-medium businesses
The African unicorn Flutterwave provides solutions for small-to-medium businesses (SMBs). These solutions are designed to help them succeed in the digital age, and they reduce their risk of failure by giving them access to capital. The company also offers a wide range of services including business coaching, marketing advice, and accounting assistance.
The Flutterwave team has created a business loan application which is designed specifically for SMBs. It helps them get the loans they need without having to go through the tedious process of filling out lengthy forms and waiting on long waitlists. With its online application portal, Flutterwave can offer their services to more people in a more efficient way. Their platform is designed for companies that are looking for low-interest loans, quick funding and flexible terms.
Flutterwave also provides an online payment solution that helps SMBs pay their bills more efficiently, saving them time and money. The company’s website also provides a wealth management tool for its customers so they can manage their finances better.
In March 2021, Flutterwave announced a collaboration with global giant PayPal. The deal allows PayPal customers to pay African merchants through the FinTech startup’s platform. By doing so, Flutterwave can now easily connect SMBs in Kenya, South Africa, Egypt, Morocco, Mauritius, Malawi, Mozambique and Senegal to PayPal’s 377 million+ account holders worldwide.
The innovative payment solutions that Flutterwave offers to customers
Flutterwave has three payment solutions which are listed below:
- Rave: a secure payment gateway that allows users to make payments easily through debit cards or bank accounts. The payment system also has an option for customers who would like to pay using cryptocurrency.
- Barter: a virtual card payment solution that allows users to make payments with dollars while the cards are in their local currency. It is a partnership between Flutterwave and Barter, which is an American online payments company.
- Moneywave: an instant payment option that allows you to make and receive payments in the easiest way possible. The service offers a wide range of services such as cash payment, direct deposit, e-wallets, online store payment, etc.
Conclusion
Flutterwave is an African unicorn company that has been able to achieve success despite the obstacles it faced. There were many hurdles along the way, including difficulties with marketing, scaling up and government regulations. However, these challenges have only made this company stronger and better prepared for future growth.
Flutterwave has been able to revolutionize the way people make payments in Africa through their innovative technology and services. They have created a platform that is open and accessible for everyone. While also providing an easy and seamless experience for their users. They are one of many companies that have seen success with blockchain technology. Flutterwave is just one example of how this technology can be used for social good as well as profit.
The company was able to make it big because they had the right idea at the right time. Isn’t it what many companies lack today?!