Iyinoluwa Aboyeji is leaving Andela, the talent accelerator he co-founded two years ago which has since gone to become one of Africa's flagship startups.
Aboyeji is leaving to head a new startup he founded called Flutterwave, an end-to-end payments platform that covers all the bases in payments processing.
In a mail to the Andela team on his departure, Aboyeji said, “Despite all the entrepreneurial spirit and expertise in Lagos, businesses still have trouble conducting transactions that are an afterthought in most of the world, it’s a problem that is prohibitive to the future growth of the continent, and one that I felt I could no longer ignore. So I decided to do something about it.”
According to QZ Africa, Flutterwave has been in private beta for weeks in Nigeria and Ghana. It has also reportedly worked with clients like Uber, Access Bank, Paystack, and Page Microfinance.
The report also says that Flutterwave has transacted about $20 million in value in those weeks it was under private beta testing and the value increase is what prompted Aboyeji to focus on the startup full-time.
TechCabal reports that the Flutterwave team is currently being assembled and they will work out of San Francisco, Lagos and Accra. They have also received funding from YCombinator, VCFintech, and CRE VC.
Osarumen from Techcabal reckons that if Flutterwave works out, it would have solved the persistent payments problem that's caused many merchants to lose their minds.