Nigerian Fintech Flutterwave Obtains Two Licenses From Rwandan Central Bank – Fintech Bitcoin News
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Flutterwave, a Nigerian fintech company that provides payment and transaction solutions, has obtained two licenses from the Central Bank of Rwanda. The licenses enable Flutterwave to provide digital payment solutions and merchant acquiring services in the East African country.
The licenses were issued under a new regulation that allows non-banking companies to offer digital financial services in Rwanda. Flutterwave is the first Nigerian company to obtain these permits in Rwanda, further highlighting the company’s presence and desire for growth in Africa’s fintech sector.
Flutterwave has been expanding its operations across the continent, helping businesses in Africa make and receive payments from customers anywhere in the world. The company’s mission is to simplify payments for endless possibilities, as they say, by providing businesses with intelligent payment links that enable them to receive full and quick payment without any hindrance, while customers enjoy a seamless and transparent payment experience.
Flutterwave’s recent acquisition of the two licenses will allow the company to offer more services to businesses and individuals operating in the Rwandan market. With the digital payment license, Flutterwave will be able to provide Mobile Money Interoperability services and facilitate seamless financial transactions between different networks. The merchant acquiring license, on the other hand, will allow Flutterwave to offer merchants its technology and infrastructure to enable them to accept mobile and card payments.
Flutterwave has seen significant growth and attained major milestones since it was founded in 2016. The company is now valued at over $1 billion after raising $170 million in a Series C funding round in March 2021. Flutterwave is also partnering with major fintech companies, such as PayPal, to enable African merchants to receive payments from all over the world, including from PayPal users.
Flutterwave’s mission to improve financial transactions in Africa has seen the company expand its services to over 33 African countries, including Ghana, Kenya, Tanzania, and South Africa. The company’s acquisition of the two licenses from the Rwandan Central Bank shows that it is committed to helping businesses in Africa reach their full potential by providing them with access to digital financial services that enable them to transact globally.
In conclusion, Flutterwave’s acquisition of the two licenses from the Central Bank of Rwanda is a significant momentum for the fintech sector in Rwanda and Africa at large. It further cements Flutterwave’s position as a leading player in the African fintech space and its commitment to expanding its services across the continent to provide more businesses and individuals with access to digital financial solutions.
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