Flutterwave Hits $3.25 Billion Valuation in Ripple-Backed Series E

According to TechCabal, Flutterwave, Africa's leading fintech, raised a Series E round at a $3.25 billion valuation on Monday (June 16) after an investment from Ripple, the U.S.-based blockchain payments company. Ripple's investment amount was not disclosed, but CEO Olugbenga Agboola confirmed it is a significant equity stake.

The two companies are integrating Ripple's RLUSD stablecoin into Flutterwave's payment infrastructure, enabling merchants and consumers across Africa to send, hold, and convert money using stablecoins. RLUSD will be available in every country where Flutterwave operates. Agboola forecasted at least a 30% increase in Flutterwave's stablecoin volumes from the deal.