Funding round
Flutterwave Series C
Flutterwave, which works in global payment processing services in San Francisco, raised $170M in a Series C round announced on 10 Mar 2021, led by Avenir and Tiger Global, at a $1.00B post-money valuation. 18 firms took part. It is Flutterwave's fourth venture round on record; the one before was a Series B in Jan 2020.
$170M
Amount raised
$1.00B
Post-money valuation
$830M pre-money
18
Investors
2 leads
17%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Flutterwave at $1.00B after the new money. The $170M bought investors about 17% of the company. It came 14 months after Flutterwave's Series B. It is 37% of the $464M Flutterwave has raised in the venture rounds on record. Flutterwave raised again 11 months later: a Series D round of $250M in Feb 2022, at $3.00B 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 21 Jan 2020, led by Greycroft and eVentures $35M
- Series C this round 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
Avenir and Tiger Global led the round with 16 other firms.
Lead investors
- backs 42 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
Also in the round
- DST Global backs 179 venture-backed companies new investor
- new investor
- Berrywood new investor
- backs 17 venture-backed companies new investor
- Greycroft backs 236 venture-backed companies new investor
- Insight Partners backs 548 venture-backed companies new investor
- Salesforce Ventures backs 314 venture-backed companies new investor
- 9yards Capital new investor
- Worldpay FIS new investor
- Y Combinator backs 1,295 venture-backed companies new investor
- Visa Ventures new investor
- Mastercard new investor
- Early Capital Berrywood
- Golden Palm Investments new investor
- backs 6 venture-backed companies new investor
- backs 9 venture-backed companies 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
39 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $68M, and this round was 2.5 times the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 24 Feb 2021 | $70M | not disclosed | IDC Ventures and Fuel Venture Capital |
| Checkout.com Payment Processing & Point of Sale | 1 Jan 2021 | $450M | not disclosed | not named |
| Payment Processing & Point of Sale | 18 May 2021 | $260M | $1.60B | SoftBank Vision Fund and SoftBank |
| Payment Processing & Point of Sale | 24 May 2021 | $250M | $1.45B | SoftBank Vision Fund |
| CRED Payment Processing & Point of Sale | 4 Jan 2021 | $81M | $806M | DST Global |
| Payment Processing & Point of Sale | 4 May 2021 | $22M | not disclosed | Invictus Growth Partners |
| Mollie Payment Processing & Point of Sale | 22 Jun 2021 | $800M | $6.50B | Blackstone |
| Payment Processing & Point of Sale | 18 Dec 2020 | $60M | not disclosed | not named |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Flutterwave raise in its Series C round?
Flutterwave raised $170M in its Series C round, announced in Mar 2021.
Who led Flutterwave's Series C round?
Avenir and Tiger Global led it, with DST Global, Early Capital Group, Berrywood, Green Visor Capital and Greycroft and 11 more.
What was Flutterwave's valuation at the Series C round?
$1.00B post-money ($830M pre-money).
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
39 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $68M, and this round was 2.5 times the median.
Did Flutterwave raise again after this round?
Yes: a Series D round in Feb 2022 of $250M at $3.00B post-money.