Flutterwave founder and CEO Olugbenga "GB" Agboola confirmed on Monday that Ripple, the United States-based blockchain payments company, has taken an equity stake in the African fintech giant. The investment closes a Series E round that values Flutterwave at $3.25 billion, though both companies have declined to share the exact amount Ripple put in. "Ripple did invest significantly in Flutterwave, an actual cash investment, so they are now an equity shareholder of the company," Agboola told TechCabal.
The deal is not just about the money. Ripple's RLUSD stablecoin and the XRP Ledger will be integrated directly into Flutterwave's payment infrastructure, letting merchants and consumers send, hold, and convert money using stablecoins. Agboola said three things drew Flutterwave to Ripple specifically: its technology infrastructure, its regulatory credibility, and its ability to move money across borders faster and at lower cost.
For Ripple, the partnership opens a door into Africa's growing appetite for dollar-denominated payments, a market Mastercard projects will reach $1.5 trillion by 2030. For Flutterwave, it is the next step in building out cross-border settlement at scale across the continent. "We bring Africa's infrastructure at scale," Agboola said. "Ripple brings expertise in digital settlement and stablecoins. Together, this helps solve actual customer problems."
Cross-border payments remain one of the most expensive and fragmented financial services on the continent, and the question now is how quickly this integration moves from announcement to everyday transaction.
Originally published by TechCabal.