Flutterwave Inc., Africa’s largest payments startup, is expanding to India after securing a partnership with IndusInd Bank Ltd., a leading financial institution in the Asian nation.
The agreement will enable Flutterwave, worth an estimated $3 billion, expand its remittance product into Asia’s second-biggest economy, said Olugbenga Agboola, co-founder and ceo of the pan-African payments company, who accompanied President Bola Tinubu to India for the G20 summit. “The Indian expansion for Flutterwave will be the first African company to do this at scale where remittances from India to Africa become seamless and quick,” Agboola said in an interview Friday.
Since its founding in 2016, Flutterwave has rapidly expanded and now has a presence in about 30 African countries. Agboola has led funding rounds, with one in January last year tripling the company’s valuation to $3 billion.
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