Fintech startup Flutterwave raises $250 mln at over $3 bln valuation

REUTERS/Afolabi Sotunde LAGOS, Feb 16 (Reuters) - Africa-focused fintech firm Flutterwave said on Wednesday it had raised $250 million in its single-biggest funding round to date, valuing the startup at more than $3 billion, as it targets mergers and acquisitions, and growing existing customer base. Founded in 2016 in Nigeria, the San Francisco-headquartered, specializes in individual and consumer transfers, one of several fintech firms aiming to facilitate and capitalize on Africas booming payments market. "It (funding) gives Flutterwave the much-needed support to deliver on our plans to provide the best experience for our merchants and customers around the world," founder and Chief Executive Officer Olugbenga Agboola said. The completion of the fundraising round, more than two years after Flutterwave announced a partnership with Visa and Worldpay, highlights the growing interest in the burgeoning payments market in Africa. Flutterwave is one of the biggest African unicorns, startups valued at more than $1 billion, as the prospect of a cashless Africa has triggered a scramble for control of its payments platforms.