Flutterwave partners with Currencycloud to boost global expansion plans
African paytech unicorn Flutterwave has teamed up with Currencycloud as the former looks to extend its payment network across Europe and the US.
Flutterwave has integrated Currencycloud’s cross-border payments API to enable merchants to send and receive money transfers around the world via virtual accounts.
The partnership will also allow merchants to receive payments through channels other than debit cards.
Founded in 2016, Flutterwave aims to enable global businesses to expand their operations in Africa and other emerging markets through a platform that enables cross-border transactions via a single API.
The company claims to have processed more than 140 million transactions worth $9 billion to date, serving 300,000 businesses. It hit unicorn status earlier this year following a $170 million Series C round.
Olugbenga ‘GB’ Agboola, founder and CEO of Flutterwave, says: “This partnership marks our ongoing commitment to creating a payments infrastructure that links the world to Africa.
“Our shared value of simplifying payments, coupled with the speed with which we could launch in a new market leveraging Currencycloud APIs were just a few reasons why we partnered with them.”
Since 2012, Currencycloud has processed more than $100 billion worth of payments to over 180 countries.
In July, it was revealed the firm is being acquired by payments giant Visa in a $700 million deal.