Iyinoluwa Aboyeji's new payments startup launches out of Y Combinator

Investors include Y Combinator, VCFintech (powered by FIS) and South Africa-based CRE Venture Capital, among others.

Flutterwave provides end-to-end payments technology and infrastructure that enables payment service providers, global merchants, licensed money transfer operators and Pan-African banks to process payments across all available payments options in Africa.

Rather than implement separate integrations for Card schemes, mobile money networks, e-wallet and bank account payments across Africa, Flutterwave says its clients can leverage one API integration to ensure end users can pay and get paid anywhere across Africa.

Like I reported earlier in that article about Andela co-founder Iyinoluwa Aboyejileaving the tech training firm to focus on Flutterwave, the startup has processed over $20 million in transactions to date for clients that include Uber, Paystack, Page Microfinance Bank, and Access Bank.

“Flutterwave is making doing business across Africa as simple as integrating with one API,” said Iyinoluwa Aboyeji, Flutterwave cofounder and CEO. “With $720 billion in annual payments made annually and exponential growth potential, Africa is the last bastion of opportunity for global payments. By building technology and infrastructure to connect Africa to the global economy, we are inspiring a new wave of commerce and prosperity across Africa.”

ALSO READ: Iyinoluwa Aboyeji's tech training company secures over $10 million in funding

Aboyeji is a seasoned entrepreneur with a track record in Africa’s technology space. He previously co-founded Andela, a Chan Zuckerberg Initiative and GV (formerly Google Ventures) backed company that extends global engineering teams with the most talented developers in Africa.

Per the press statement, Flutterwave’s founding team has several years of experience at global payments technology companies including Google Wallet and PayPal, as well as Africa’s largest commercial and central banks.

“Flutterwave is our secret weapon,” said Ife Orioke, CEO of PayWithCapture, one of the payments providers powered by Flutterwave. “Having a supportive, reliable and secure payments infrastructure partner like Flutterwave has freed us to consistently push the boundaries of payments and digital banking in Africa.”

It provides this solution as a service to Pan African banks, payment service providers and global merchants who leverage its APIs to simultaneously make and accept card, bank account and mobile money payments in different African countries.

“By making it easy for any merchant, no matter where they are located, to process all of the available payment options, Flutterwave is changing how money moves for an entire continent,” said Aaron Harris, Y Combinator Partner. “That’s a huge idea and Flutterwave has an incredible team to attack it.”

Leveraging its proprietary modern payments processing technology and infrastructure, as well as a core of integrations to major card schemes, mobile money networks and Pan African banks, Flutterwave’s end-to-end payments solutions covers every aspect of the payments value chain from checkout and risk management to settlement.