Flutterwave, the startup with the largest valuation in Africa, potentially flags Morocco for future expansion plans days after locking in $250 million in investment. Through mergers and acquisitions, the Cherifian kingdom and Egypt top the list of the group’s next destinations.
The unicorn’s new internationalization projects were revealed by its CEO, Olugbenga Agboola. He had given an interview to a Nigerian media about the recent monumental fundraising and how the money will be used. The seed round raised its valuation from $1 billion to $3 billion.
Through cross-border payments services, Flutterwave’s customer pool includes global mobility service provider Uber and global vacation rental Booking.com. Fintech is booming in Africa as investors seem keen to unlock the opportunities Africa’s young, tech-savvy population has to offer.