Flutterwave is set to approach the U.S equity market in a bid to secure funding targeted at enabling it break into new markets in Africa as well as widen its capacity in countries it currently operates in.
This move is coming barely a year and a half after Mr. Olugbenga Agboola the C.E.O co-founder of the fintech company made his ambition to seek listing in New York or a possible dual listing in New York and Nigeria known.
Flutterwave, a fintech company based in San Francisco, California with a keen eye and interest in the African market is contemplating flotation to be followed by listing on Nasdaq.
On Thursday, Flutterwave announced it has obtained a switching and processing license from the Central Bank of Nigeria which gives it permission to directly facilitate card transactions, operate agency banking, handle fund transfers between fintechs and banks, and conduct other payment services without any further authentication.
Flutterwave is a rapidly growing fintech company attracting outside venture capitalists with the intent of harnessing the potential of the tech ecosystem of Nigeria’s dominantly youthful population, start-ups in Africa’s biggest economy and most populous country are entering a new phase of capital raising by way of public offering.
Flutterwave had raised $250 million in Series D this year already, which makes the fintech company worth $3Billion already.
However, Clariform recalls that Flutterwave has been in the eye of the storm in recent months as a result of malfeansance allegations which includes staff bullying.
Also, allegations on involvement in money laundering in Kenya and indictment by the Central Bank of Kenya that it does not have a license to operate in the country have put the emerging African tech giant in the news for wrong reasons lately.
