FinTech

Flutterwave Records 550% Growth in Customer Base in 2018

FLUTTERWAVE

Flutterwave CEO, Olugbenga Agboola,  in new year message to its customers and partners, said 2018 was a remarkable for the fintech firm, as Flutterwave experienced significant positive changes in its operations. 

In the message, Agboola informed that Flutterwave has spruced up two of its products towards friendlier user experiences for customers, expanded its teams locally and internationally and received some industry recognition and awards. 

Agboola said that Flutterwave has expanded its licenses and certifications in countries where it operates and this has enabled the firm to provide “highest level of security and regulatory oversight” to its customers. 

Also, Flutterwave did complete the Series A extension round of financing in October 2018 with investments from Mastercard and welcome former chairman and CEO of Visa, Joe Saunders, to its board.

While reviewing Flutterwave’s milestone in 2018, Agboola said the company saw a 550% growth in its customer base for Business (Rave) made possible by partnerships with existing customers. 

“We retained our key partnerships within the financial industry, enterprise customers like Uber, Arik Air, Booking.com and Flywire. Some of our newer customers include DusuPay (Uganda), BroadPay (Zambia) and PennySmart (Ghana). Thanks to the 26,000 businesses on Rave that trusted us to help to grow their business.

“We have revamped Barter (Flutterwave for Consumers). What started off as a web app designed to help our local customers create instant VISA & Mastercards for everyday international merchant payments morphed into a powerful app that lets them pay bills, buy tickets, send money, and of course, create instant VISA Cards.  Barter today has over 30,000 customers. 

“We are excited about the new app and are thrilled at the possibility of what’s to come in 2019. Without the collective work of our team, both Rave and Barter wouldn’t be thriving and making waves both at home and in our international countries

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The journey to getting licensed in these three countries came with its fair share of challenges, highs, lows, discouraging moments, frustrating hours, processes, paperwork, small wins, and eventually, a pleasing outcome. 

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“We’ll provide more details about the journey, and what being licensed means for us globally, at the end of Q1, 2019”, Agboola shared. 

Flutterwave received the ‘Best Payments Company’ award at the Ghana e-commerce awards ceremony in November.