Funding round
Flutterwave Series D
Flutterwave, which works in global payment processing services in San Francisco, raised $250M in a Series D round announced on 16 Feb 2022, led by B Capital, at a $3.00B post-money valuation. 10 firms took part, 5 of them already investors. It is Flutterwave's fifth venture round on record; the one before was a Series C in Mar 2021.
$250M
Amount raised
$3.00B
Post-money valuation
$2.75B pre-money
10
Investors
1 lead
3.0x
Step-up from the Series C
$1.00B in Mar 2021
8.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Flutterwave at $3.00B after the new money, 3.0 times the $1.00B of its Series C (Mar 2021). The $250M bought investors about 8.3% of the company. It came 11 months after Flutterwave's Series C. It is 54% of the $464M Flutterwave has raised in the venture rounds on record. Flutterwave raised again 52 months later: a Series E round in Jun 2026, at $3.20B 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 10 Mar 2021, led by Avenir and Tiger Global $170M$1.00B post-money
- Series D this round 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
B Capital led the round with 9 other firms. Glynn Capital, Avenir, Tiger Global and Green Visor Capital and 1 more had backed Flutterwave before.
Lead investor
- B Capital backs 156 venture-backed companies new investor
Also in the round
- Alta Park Capital new investor
- Whale Rock Capital new investor
- Lux Capital backs 194 venture-backed companies new investor
- backs 44 venture-backed companies existing investor
- backs 42 venture-backed companies existing investor
- Tiger Global backs 391 venture-backed companies existing investor
- backs 17 venture-backed companies existing investor
- Salesforce Ventures backs 314 venture-backed companies existing investor
- backs 11 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
22 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $208M, and this round was 1.2 times the median. The closest in time, other companies' Series D rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Checkout.com Payment Processing & Point of Sale | 12 Jan 2022 | $1.00B | $40.00B | not named |
| Qonto Payment Processing & Point of Sale | 10 Jan 2022 | $550M | $5.00B | Tiger Global and Technology Crossover Ventures |
| Neon Payment Processing & Point of Sale | 19 May 2022 | $300M | $1.60B | BBVA |
| Xendit Payment Processing & Point of Sale | 19 May 2022 | $300M | not disclosed | Coatue and Insight Partners |
| Payment Processing & Point of Sale | 10 May 2022 | $200M | $1.40B | KKR |
| Bolt Payment Processing & Point of Sale | 13 Oct 2021 | $393M | $6.00B | not named |
| Payment Processing & Point of Sale | 16 Jun 2022 | $2.0M | not disclosed | not named |
| Payment Processing & Point of Sale | 13 Sep 2021 | $250M | $4.00B | Thrive Capital and General Catalyst |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Flutterwave raise in its Series D round?
Flutterwave raised $250M in its Series D round, announced in Feb 2022.
Who led Flutterwave's Series D round?
B Capital led it, with Alta Park Capital, Whale Rock Capital, Lux Capital, Glynn Capital and Avenir and 4 more.
What was Flutterwave's valuation at the Series D round?
$3.00B post-money ($2.75B pre-money).
How does it compare with other Series D rounds in Payment Processing & Point of Sale?
22 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $208M, and this round was 1.2 times the median.
Did Flutterwave raise again after this round?
Yes: a Series E round in Jun 2026 at $3.20B post-money.