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Flutterwave Inc., one of Africa's most valuable fintech startups, has sold an equity stake to Ripple, a leading provider of blockchain-based enterprise solutions for traditional and digital finance globally, valuing the unicorn at $3.25 billion according to the company's Series E funding round. The exact size of Ripple's investment and shareholding percentage in Flutterwave was not disclosed by either company, though Chief Executive Officer Olugbenga Agboola confirmed to Bloomberg that Ripple is participating at the equity level, which means they get to participate on the upside of the company's growth.
This partnership aims to strengthen Flutterwave's payment infrastructure across Africa and deepen global blockchain collaborations between the two rapidly expanding companies in Africa's cross-border payments space. Flutterwave offers stablecoin payment options while Ripple is forging new partnerships, and the deal shows Flutterwave's continued push to scale its payments infrastructure across Africa while deepening ties with global players in the blockchain and cross-border payments ecosystem.
The investment comes at a time when demand for faster, lower-cost cross-border payments continues to rise across Africa, a region where both companies are increasingly active in the growing payments market. Ripple, which offers blockchain-based payment solutions in over 90 countries, has been steadily expanding its footprint on the continent through partnerships with institutions such as South Africa's Absa Bank and payments firm Chipper Cash, demonstrating its commitment to African market development.
Flutterwave, which operates in 35 African markets, has also been gradually moving deeper into digital asset infrastructure and last year introduced stablecoin-based payment options allowing businesses and consumers to transact using dollar-pegged tokens as part of a broader push into blockchain-enabled settlement systems. The deal gives Ripple access to one of Africa's largest fintech networks while providing Flutterwave with additional infrastructure and technical expertise to scale both its traditional payments business and emerging blockchain offerings.
Meanwhile, Ripple continues to strengthen its presence in the Middle East and Africa, recently expanding its regional footprint with a new headquarters at the Dubai International Financial Centre, a move that positions it to scale operations across key emerging markets. This strategic expansion demonstrates both companies' confidence in Africa's fintech growth trajectory and the region's potential to become a major hub for digital payment innovation and blockchain technology adoption in the global financial system.
