Olugbenga Agboola, co-founder and CEO of Flutterwave. FILE PHOTO | POOL

Flutterwave — Africa’s most dear start-up — has acquired regulatory approval to function as funds and cash remittance service supplier in Egypt because the tech agency steps up its enlargement on the continent. 

The license comes at a time the unicorn is making an attempt to beat regulatory hurdles throughout Africa which have slowed its bold plans to develop on the continent.

“We’re proud to have been granted the Cost Companies Supplier and Cost Facilitator licenses in Egypt, which varieties a part of our worldwide enlargement technique,” Flutterwave chief govt Olugbenga Agboola stated. 

“Our imaginative and prescient is to attach all elements of Africa by means of funds and join Africa to the world. This manner, it’s simpler for multinationals increasing into Africa to take action. This achievement is yet one more step in that path.”

The Nigerian-based startup, headquartered in San Francisco, gives fee know-how for retailers, and processes funds on the Net, cellular, ATM, and factors of sale worldwide.

The agency was based by Nigerian nationals Olugbenga Agboola and Iyinoluwa Aboyeji in 2016 to facilitate cross-border funds for small and enormous companies in Africa by means of one utility programming interface (API).

Final 12 months, the tech agency introduced it raised $250 million in a Sequence D spherical that tripled its valuation to over $3 billion in simply 12 months. The corporate has plans to record Nasdaq Inventory Market and enter the profitable lending market because it gears for extra development. 

Flutterwave has processed over 400 million transactions in extra of $25 billion throughout over 35 international locations. 

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