US electronic payments company PayPal partners with Nigeria's Flutterwave

March 16, 2021 10:10 AM

The partnership makes online payments a lot easier for African businesses.

Flutterwave teams up with PayPal to make it easier for African businesses to accept and make payments (Business Insider)

Businesses in Africa can now receive payments from over 377 million users across the world, as Nigerian tech startup Flutterwave collaborates with U.S payments company PayPal.

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All PayPal users can now pay African businesses from anywhere in the world, through the Flutterwave gateway.

The partnership seeks to open up a world of opportunities for businesses on the continent.

Flutterwave's CEO and cofounder, Olugbenga Agboola, 35, says "as we build the largest payment infrastructure in Africa, we also know that Africa does not exist in isolation. We need to connect Africa to the world when it comes to payments and we took a closer step to that today."

Now valued at over $1 billion, Flutterwave recently raised $170 million in foreign investments, underscoring just how much Nigeria's tech ecosystem has continued to flourish in a tough domestic climate.

Headquartered in San Francisco and Nigeria, Flutterwave specialises in individual and consumer online transfers.