Payments startup Flutterwave hits $3.2B valuation, backed by Ripple | TechCrunch

Last day to exhibit your breakthrough to 10,000+ tech leaders at Disrupt is on Oct 2. Book Exhibit Table Now. Disrupt doors open Oct. 13. Get your pass and bring someone with you at 50% off. REGISTER NOW. African payments infrastructure company Flutterwave announced Tuesday a Series E round that values the company at $3.2 billion. This round, notably, includes an equity investment from payments blockchain company Ripple. The company did not reveal the size of this round, although Flutterwave says it has now raised more than $500 million in funding to date. Ripple’s stake is part of a plan to help both companies expand financial services on the African continent. Cross-border payments, the industry in which Flutterwave primarily operates, remain challenging in Africa due to fragmented banking systems, strict foreign exchange policies, currency volatility, and the routing of transactions through European cities like London, which causes delays. Progress is being made, however, with companies like Flutterwave offering solutions in API unification, which refers to helping Africa operate as one market. Earlier this year, the fintech also bought the African banking startup Mono to adopt