Funding round
Flutterwave Series B
Flutterwave, which works in global payment processing services in San Francisco, raised $35M in a Series B round announced on 21 Jan 2020, led by Greycroft and eVentures. 11 firms took part. It is Flutterwave's third venture round on record; the one before was a Series A in Oct 2018.
$35M
Amount raised
Not disclosed
Post-money valuation
11
Investors
2 leads
Valuation
What this round says about the price
Flutterwave did not disclose a valuation in this round. It came 15 months after Flutterwave's Series A. It is 7.5% of the $464M Flutterwave has raised in the venture rounds on record. Flutterwave raised again 14 months later: a Series C round of $170M in Mar 2021, at $1.00B post-money.
Flutterwave's funding rounds
Flutterwave has 6 venture rounds on record. This one is highlighted.
- Seed 15 Aug 2016 $230K
- Series A 16 Oct 2018 $9.2M
- Series B this round 21 Jan 2020, led by Greycroft and eVentures $35M
- Series C 10 Mar 2021, led by Avenir and Tiger Global $170M$1.00B post-money
- Series D 16 Feb 2022, led by B Capital $250M$3.00B post-money
- Series E 16 Jun 2026 amount not disclosed$3.20B post-money
Investors
Who put money in
Greycroft and eVentures led the round with 9 other firms.
Lead investors
- Greycroft backs 236 venture-backed companies new investor
- eVentures new investor
Also in the round
- backs 13 venture-backed companies new investor
- FIS new investor
- Visa new investor
- backs 17 venture-backed companies new investor
- Endeavor backs 236 venture-backed companies new investor
- backs 47 venture-backed companies new investor
- 9 Yards Capital new investor
- backs 37 venture-backed companies new investor
- YCVC new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
40 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $39M, and this round was close to the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 6 Feb 2020 | $20M | not disclosed | not named |
| OPay Payment Processing & Point of Sale | 18 Nov 2019 | $120M | not disclosed | not named |
| SpotOn Payment Processing & Point of Sale | 11 Mar 2020 | $50M | not disclosed | 01A |
| Payment Processing & Point of Sale | 31 Mar 2020 | $22M | not disclosed | VEF |
| Payment Processing & Point of Sale | 22 Apr 2020 | $150M | not disclosed | Union Square Ventures |
| Payment Processing & Point of Sale | 28 Oct 2019 | $65M | not disclosed | Digitalis Ventures |
| Payment Processing & Point of Sale | 24 Oct 2019 | $35M | not disclosed | Goldman Sachs |
| Payment Processing & Point of Sale | 10 Oct 2019 | $15M | not disclosed | eWTP Fund and China Merchants Venture Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Flutterwave raise in its Series B round?
Flutterwave raised $35M in its Series B round, announced in Jan 2020.
Who led Flutterwave's Series B round?
Greycroft and eVentures led it, with CRE Venture Capital, FIS, Visa, Green Visor Capital and Endeavor and 4 more.
What was Flutterwave's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
40 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $39M, and this round was close to the median.
Did Flutterwave raise again after this round?
Yes: a Series C round in Mar 2021 of $170M at $1.00B post-money.