Ripple Invests in African Fintech Company Flutterwave

On June 16, Bloomberg reported that Flutterwave, one of Africa’s most valuable fintech startups, has sold a stake in its business to blockchain company Ripple, a move aimed at expanding its payment operations and advancing a strategic partnership with Ripple. Flutterwave CEO Olugbenga Agboola stated in an interview that Ripple’s investment values Flutterwave at $3.3 billion. He declined to disclose either the specific amount of Ripple’s investment or what percentage of ownership the blockchain firm will hold in Flutterwave after the deal closes. Flutterwave is one of Africa’s largest payment infrastructure providers, offering cross-border payment processing, receivables management, and other financial service solutions to businesses across the continent. For Ripple— which has been scaling its footprint in global payment networks and stablecoin markets in recent years—this investment marks a key milestone to further penetrate Africa’s fast-growing payments sector.