Flutterwave sells a portion of its equity to Ripple, with a valuation reaching 3.3 billion dollars

According to Bloomberg, one of Africa's most valuable fintech startups, Flutterwave, has sold a portion of its equity to blockchain company Ripple to drive the expansion of its payment business and strategic cooperation plans.

Flutterwave CEO Olugbenga Agboola stated in an interview that Ripple's investment has valued Flutterwave at $3.3 billion. However, he declined to disclose the specific investment amount from Ripple and the percentage of shares Ripple holds in Flutterwave.

Flutterwave is one of Africa's largest payment infrastructure companies, providing businesses with cross-border payment, collection, and financial service solutions, while Ripple has been continuously increasing its presence in the global payment network and stablecoin sectors in recent years. This investment is seen as an important move for Ripple to further expand into the African payment market.