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Nigeria fintech Flutterwave Achieves ‘Unicorn’ After Raising $170M

Nigerian fintech startup Flutterwave has closed a $170 million Series C round which brings it valuations over $1 billion to become the largest amount ever secured by an African tech startup.

The new Series C round was led by New York-based private investment firm Avenir Growth Capital and US hedge fund and investment firm Tiger global as well as existing investors such as DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, PayPal, Salesforce Ventures, Tiger Management, Worldpay FIS 9yards Capital. 

Flutterware was launched in 2016 as a modern payment technology to enable banks and merchants to replace the multiple payment gateways they were using with one simple API that processes any form of payment anywhere in Africa.

Currently, the company is live in 20 African countries and processes over 140 million transactions worth more than $9 billion. 

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