Olugbenga Agboola: Nigerian CEO raises N12.6bn, plans to expand business operation

Olugbenga Agboola: Nigerian CEO raises N12.6bn, plans to expand business operation

- The CEO of Flutterwave, Olugbenga Agboola, has been able to raise $35 million (N12,652,500,000) to facilitate more payments

- The fintech also partnered with other Worldpay, another payment facilitator, so that payment across Africa is more efficient

- According to Agboola, the company will use the fund to expand its operations to other countries it is operating

A Lagos and San Francisco-based financial technology (fintech) startup, Flutterwave, has been able to raise $35 million (N12,652,500,000) as it announced that it will be partnering with Worldpay FIS to facilitate payment in Africa.

The CEO, Olugbenga Agboola, of the fintech startup will be investing the fund to grow tech business in many countries, TechCrunch reports.

With that also, the company will be expanding its operations to build more payment products and services.

It should be noted that Flutterwave launched in 2016, and has since then given clients an easier API that allows them to work with the organization to make bespoke payment applications.

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The partnership will allow easier processing of payments in and out of Africa. Photos sources: TechPoint and TechCrunch

The partnership will allow easier processing of payments in and out of Africa. Photos sources: TechPoint and TechCrunch
Source: UGC

In 2019 alone, the company was able to facilitate 107 million transactions that were worth $5.4 billion (N1,952,100,000,000). One of the works they did was the facilitation of Cardi B’s performance ticket sale in Nigeria.

With their collaboration with Worldpay, they were able to process African payments.

“With this partnership, any Worldpay merchant in Europe or the US can accept any African payment. If someone goes to pay Netflix with an African card, it just works,” Agboola said.

Meanwhile, Legit.ng earlier reported that another Nigerian, Dara Oladosu, succeeded and made the country really proud as he got a big job from Twitter.

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The announcement of the appointment was made at the tech meetup that was held in Lagos where Jack, the owner of twitter, and other executives were present.

During the meeting, the executives were introduced to the Nigerian developer who created a special twitter bot called QuotedReplies.

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In talking about how built the special computer programme, he said in October the bot had a massive 40 million impressions.

In other news, the United States embassy in Nigeria recognised a young Nigerian man, Olusola Owonikoko, for his great contribution to the country.

A social activist, Olusola is always focused on improving the lives of those who are vulnerable and financially underprivileged in society.

It should be noted that in 2018, his idea at maximizing the power of technology to help those living with disabilities caught world attention as he won that year’s Google Impact Challenge.

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Source: Legit.ng News

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