African fintech unicorn, Flutterwave resumes IPO talks

African fintech unicorn, Flutterwave resumes IPO talks

Flutterwave, the leading African fintech startup wants to continue with its initial public offering (IPO) plans that were stalled last year due to a myriad of scandals including insider trading, sexual allegations and regulatory challenges.

Flutterwave, a prominent African fintech unicorn, is resuming its plans for an initial public offering (IPO) that were put on hold in the previous year due to various issues, including insider trading, sexual allegations, and regulatory challenges. Despite these setbacks, Flutterwave's CEO, Olugbenga Agboola, expressed the company's intention to proceed with the IPO, emphasizing its ability to attract global clients who prioritize compliance and a global view. The company has made strategic appointments and raised significant funding, including a $250 million Series D round in 2022, valuing the company at $3 billion. Although market conditions may impact the timing, Flutterwave's deep market penetration and widespread operations across about 30 African countries position it well for public market investment. However, in a previous interview, Agboola stated that the company's primary focus remains on expanding its market reach and reliability across Africa. If the IPO plans do not materialize, Flutterwave may opt for additional fundraising and continue pursuing acquisition strategies to maintain its growth trajectory.

Read more on BenjaminDada

Top comments(0)