Saturday, December 4, 2021

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Nigeria’s Flutterwave listed on Time’s 100 most influential companies

Nigerian Fintech outfit, Flutterwave, has joined the likes of global giants Apple, Netflix, and Facebook on Time magazine’s newly released list of 100 Most Influential Companies on the planet.

In a release on its official website Tuesday, Time listed the payment company as a pioneer firm. This comes bare months after Flutterwave announced a valuation of over $1 billion after closing a $170m Series C funding round in March 2021, becoming the largest amount ever secured by any African outfit.

The startup founded by Olugbenga Agboola also announced a partnership deal with United States payments giant, Paypal last month “to allow businesses in Africa to receive payments from over 377 million @PayPal users all over the world,” it said.

A statement by Time noted Flutterwave’s swift action under the COVID-19 pandemic enforced lockdowns across Africa in 2020, noting that its digital storefront for over 20,000 store owners, helped business owners continue to serve the needs of the populace as shops were shut from their customers.

Time wrote: “The co-founder and CEO of Nigeria’s Flutterwave, Olugbenga Agboola, compares the infrastructure of digital transactions across nations and platforms (think credit cards, debit payments and digital wallets) to plumbing: you don’t want to think about it, you just want it to work. When pandemic lockdowns hit brick-and-mortar businesses in Africa, the digital-payment service was able to rapidly set up digital storefronts for 20,000 customers, throwing them a lifeline. Agboola called the free campaign “keeping the lights on.” Flutterwave hit tech-unicorn status in March when it secured $170 million in Series C funding from global investors, valuing the company at more than $1 billion.”

Flutterwave is the only African company on the Time 100 list which also includes global heavyweights like, Nike, Pfizer, Mastercard, Zoom, Microsoft, Twitter, Spotify, Samsung, Tesla to mention a few.

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