Fintech giant Flutterwave raised investment from Ripple and reached a valuation of $3.2 billion
Flutterwave, an African payment infrastructure company, has received a significant investment from the blockchain platform Ripple, bringing the startup’s market valuation to $3.2 billion.
The new partnership aims to completely modernize the continent’s cross-border remittance system.
The total amount of funds raised by the company over the course of its operations now exceeds $500 million.
The parties have decided not to disclose the exact amount of the current funding round. It is known that the investment deal is part of the American blockchain giant’s long-term strategy to expand its presence in promising markets.
Flutterwave is one of the largest payment systems in its region and helps businesses efficiently accept and send payments across various African countries.
It supports transactions using bank cards, direct transfers, mobile wallets, and other local financial instruments.
The new investment will open up broader technical capabilities for partners to optimize transactions.
Ripple plans to integrate its proprietary stablecoin, Ripple RLUSD, the Ripple payment network, and the XRP Ledger directly into the African fintech giant’s existing infrastructure.
The implementation of advanced cryptographic solutions will significantly speed up the processing of international transactions for businesses and substantially reduce associated fees.
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