Fintech giant, Flutterwave, has secured a strategic investment from payments infrastructure firm Ripple as the unicorn startup kicked off its Series E fundraising round to drive its stablecoin expansion plans.
- +Ripple backs Flutterwave in Series E round to accelerate stablecoin expansion
The company’s CEO, Olugbenga Agboola, announced the new funding in a blog post on Tuesday.
The company’s CEO, Olugbenga Agboola, announced the new funding in a blog post on Tuesday.
Agboola noted that the investment coincides with a broader partnership aimed at accelerating what he describes as a transition toward programmable and globally interoperable money movement systems.
According to Ripple, the investment is intended to support Flutterwave’s expanding payments infrastructure and its integration of digital asset capabilities across its ecosystem.
Agboola said the Series E round represents both funding support and strategic alignment with its long-term infrastructure roadmap rather than a conventional capital raise alone.
According to him, Flutterwave’s focus has shifted from building payment connections across African markets to constructing what a financial operating system that integrates payments, liquidity, identity, compliance, and treasury services.
The Flutterwave CEO said Ripples was selected as a partner because the two companies share the belief that the future of money movement will be global, digital, and always on.
Agboola said though Flutterwave is known for payments, what the company is building “is much bigger than payments.”
According to him, the next generation of commerce would be powered by infrastructure that seamlessly combines payments, liquidity, treasury management, identity, compliance, and programmable money.
He said this was why the company has continued investing in stablecoin infrastructure, settlement networks, identity capabilities, data infrastructure, and regulated financial infrastructure.
To consolidate its growing influence in the payment ecosystem, Flutterwave in January this year acquired Nigerian open banking startup Mono in an all-stock transaction.
The acquisition brought together two major fintech infrastructure players as Flutterwave looks to strengthen its payments stack with open banking, data, and identity capabilities.
Under the deal, Mono will continue to operate as an independent product, with no changes to its leadership or operations.
Meanwhile, the company recently announced a landmark achievement recently as it crossed one billion transactions and moved over $40 billion in total payment value since inception.
According to Agboola, the company’s growth was driven by increasing adoption of local payment methods by businesses and consumers across its markets.
