Flutterwave Releases 2024 Report Highlighting Growth & Innovation
Flutterwave, Africa’s leading fintech company, has unveiled its 2024 end-of-year report detailing significant achievements in global expansion, technological innovation, and customer success.
The report underscores the company’s growing influence in the global fintech landscape, cementing its position as a key player in the payments technology sector.
Founded in 2016, Flutterwave has become a powerhouse in African enterprise payments, processing over 630 million transactions worth $31 billion. The 2024 report highlights the company’s impressive strides in expanding its global footprint, advancing its technology, and delivering value to businesses worldwide.
Global Expansion and Market Penetration
Flutterwave’s global reach saw a notable increase, with 48% of businesses using its platform receiving payments from new geographic locations—a 12% rise from 2023. The company expanded its operations to Rwanda, Ghana, Uganda, Zambia, and Mozambique, bringing its total presence to over 35 countries. Additionally, Flutterwave now supports more than 150 currencies, enabling seamless cross-border transactions for its users.
Flutterwave achieved significant milestones in the United States, acquiring 31 additional Money Transfer Licenses and launching its Send App in 49 states. These developments have strengthened its ability to serve the African diaspora and global customers.
Technological Advancements
Flutterwave’s commitment to innovation was evident in its technological breakthroughs. The company improved card velocity by five times, enhancing fraud detection capabilities and saving hundreds of thousands in card processing fees. It also launched Direct Debit in Nigeria, signalling a shift from card-based to account-based payments, a trend expected to gain momentum in 2025.
A strategic partnership with OPay granted Flutterwave access to over 40 million OPay users, further expanding its customer base. These advancements have positioned Flutterwave as a leader in fintech innovation, earning recognition as one of CNBC’s Top 250 Fintech Companies and Fast Company’s Most Innovative Company for the EMEA region in 2024.
Customer Success Stories
The report also highlighted the success of Flutterwave’s clients. Risevest, a wealth management platform, achieved a 93% customer journey completion rate while entering new markets. Similarly, Trove Finance recorded a 100% success rate for ‘pay with bank transfers’ using Flutterwave’s infrastructure.
Looking Ahead to 2025
Flutterwave’s 2025 roadmap includes launching its next-generation API in the first half of the year. This innovation promises to set a new benchmark for payment infrastructure in Africa, offering smoother payment experiences, easier integrations, and greater customer control.
With a relentless focus on sustainable growth and seamless solutions, Flutterwave is poised to continue its trajectory as a transformative force in the global fintech industry.
February 17, 2025 at 07:53AM
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