Business

Flutterwave’s Innovative Strides: Empowering African Businesses and Driving Economic Growth

Flutterwave, Africa’s trailblazing payments technology company, has been making significant headway in its mission to revolutionize the continent’s financial landscape and empower businesses of all sizes. Through strategic partnerships and groundbreaking solutions, Flutterwave is enabling African enterprises to thrive locally and globally.

One of Flutterwave’s notable collaborations is with Acquired.com, which aims to enhance the user experience for its flagship remittance product, Send AppApp. By integrating Acquired.com’s payment processing expertise, Flutterwave has streamlined the process for U.K. and E.U. cardholders sending money to Africa, offering faster, more secure, and seamless transactions. This partnership has been instrumental in optimizing the customer journey through tailored analysis, recommendations, and intelligent BIN routing.

Flutterwave’s unwavering commitment to innovation has earned it the prestigious title of Fast Company’s Most Innovative Company for Europe, the Middle East, and Africa in 2024. This recognition underscores the company’s dedication to embedding innovation across all its operations, from expanding Africa’s largest payment network to developing solutions that simplify payments, currency exchanges, e-commerce, and remittances for businesses and individuals alike.

To support the growth and expansion of multinationals across Africa, Flutterwave has introduced cutting-edge solutions for payouts and collections. These solutions empower global enterprises to collect and disburse funds in multiple currencies while providing the agility to move money around quickly and capitalize on investment opportunities swiftly. Flutterwave’s collaboration with Microsoft to scale its payment solutions on Azure has further enhanced the efficiency of its engineering and product development processes.

Flutterwave’s impact extends beyond multinational corporations, as evidenced by its partnership with Token.io, which enables open banking for its U.K. and E.U. customers and connects African businesses with millions of global customers. The company has also expanded the reach of its remittance solution, Send AppApp, to Canada and the U.S. while incorporating mobile money and cash pickups in selected destinations, allowing Africans to receive remittances through their preferred cash withdrawal method.

In a landmark five-year strategic technology partnership, Microsoft and Flutterwave have joined forces to accelerate payment innovation in Africa and foster the growth of small and medium-sized enterprises (SMEs) across the continent. By transitioning to Microsoft Azure, Flutterwave aims to process high-volume payments at scale, ensuring its clients a seamless and secure payment experience. This collaboration also enables Flutterwave to scale its product offering to millions of merchants worldwide through Azure OpenAI Service.

Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, expressed his enthusiasm for the partnership with Microsoft, stating, “We’re honored that Microsoft believes in our vision and trusts our capability. I am proud to say we’re not just dreaming of an inclusive digital Africa but creating it.”

As Flutterwave continues to champion digital financial inclusion and empower African businesses, its strategic partnerships and innovative solutions are poised to transform the continent’s economic landscape. Flutterwave is laying the foundation for a thriving and resilient African economy by simplifying payments and connecting enterprises to global opportunities.

Kalel Genesis
the authorKalel Genesis