TechFlow reported on June 16, citing Bloomberg, that African fintech company Flutterwave has sold a portion of its equity to blockchain company Ripple. Following the transaction, Flutterwave’s valuation reached $3.3 billion.
Flutterwave Chief Executive Officer Olugbenga Agboola said the partnership is intended to accelerate the company’s growth through payment business expansion and strategic cooperation. The report did not disclose the size of Ripple’s investment, nor did it disclose the percentage stake Ripple acquired in the deal.
Flutterwave currently operates in 35 African countries. The transaction links Ripple with Flutterwave through a payment-focused cooperation framework, with the available details limited to the Bloomberg report and the statement from Flutterwave’s management.