African fintech firm Flutterwave launches SME e-commerce portal

San Francisco and Lagos-based fintech startup Flutterwave has launched Flutterwave  Store, a portal for African merchants to create digital shops to sell online.

The product is less Amazon  and more eBay — with no inventory or warehouse requirements. Flutterwave insists the move doesn’t represent any shift away from its core payments business.

The company accelerated the development of Flutterwave Store in response to COVID-19, which has brought restrictive measures to SMEs and traders operating in Africa’s largest economies.

African fintech firm Flutterwave raises $35M, partners with Worldpay

San Francisco and Lagos-based fintech startup Flutterwave has raised a $35 million Series B round and announced a partnership with Worldpay FIS for payments in Africa.

With the funding, Flutterwave  will invest in technology and business development to grow market share in existing operating countries, CEO Olugbenga Agboola — aka GB — told TechCrunch.

The company will also expand capabilities to offer more services around its payment products.

Flutterwave and Alipay partner on payments between Africa and China

San Francisco and Lagos-based fintech  startup Flutterwave  has partnered with Chinese e-commerce company Alibaba to offer digital payments between Alipay  and African merchants.

Flutterwave is a Nigerian-founded B2B payments service (primarily) for companies in Africa to pay other companies on the continent and abroad.

Alipay is Alibaba’s digital wallet and payments platform. In 2013, Alipay surpassed PayPal in payments volume and currently claims a global network of more than 1 billion active users, per Alibaba’s latest earnings report.

Flutterwave and Visa launch African consumer payment service GetBarter

Fintech startup Flutterwave has partnered with Visa to launch a consumer payment product for Africa called GetBarter.

The app-based offering is aimed at facilitating personal and small merchant payments within countries and across Africa’s national borders. Existing Visa  cardholders can send and receive funds at home or internationally on GetBarter.