Ripple Invests in African Fintech Company Flutterwave

BlockBeats News, June 16th, according to Bloomberg, Flutterwave, one of Africa's most valuable financial technology startups, has sold a portion of its equity to the blockchain company Ripple to drive its payment business expansion and strategic partnership plans.

Flutterwave's CEO, Olugbenga Agboola, stated in an interview that Ripple's investment has valued Flutterwave at $3.3 billion. However, he declined to disclose the specific amount of Ripple's investment and the percentage of ownership Ripple holds in Flutterwave.

Flutterwave is one of Africa's largest payment infrastructure companies, providing cross-border payment, receiving, and financial services solutions to businesses, while Ripple has been increasing its presence in the global payment network and stablecoin space in recent years. This investment is seen as a significant move for Ripple to further expand into the African payment market.