Who Owns Flutterwave?

Flutterwave has become one of the most successful fintech companies in Africa, but when it comes to understanding who owns Flutterwave, several key players come into focus. As a privately held company, ownership is shared among its founders and major institutional investors, including some of the world’s leading venture capital and private equity firms.

Founders and Early History

Founded in 2016 by Olugbenga Agboola, Iyinoluwa Aboyeji, and Adeleke Adekoya, Flutterwave emerged to transform the payment landscape across Africa. Olugbenga Agboola, who currently serves as CEO, holds a significant stake in the company, reflecting his ongoing influence and leadership. Although co-founder Iyinoluwa Aboyeji stepped down as CEO in 2018, his contributions to the company’s vision remain foundational.

Evolution of Ownership Through Funding

The ownership structure of Flutterwave has evolved notably through various funding rounds. The company attracted significant investment during its Series C and Series D rounds, raising $170 million in March 2021 and $250 million in February 2022, respectively. These rounds saw the involvement of prominent investors such as Tiger Global Management, Avenir Growth Capital, B Capital Group, Salesforce Ventures, Visa Ventures, and Mastercard.

Key Investors: Strategic Partners in Growth

Aside from the founders, the primary owners of Flutterwave include key investors such as Tiger Global Management and Avenir Growth Capital. These investors bring not only capital but also strategic insights and global connections that fuel Flutterwave’s expansion. The involvement of industry giants like Visa and Mastercard reflects the company’s strong growth potential and its pivotal role in Africa’s fintech ecosystem.

Financial Milestones and Market Position

As of May 2025, Flutterwave has raised a total of $489 million. Despite substantial fundraising, the company does not operate with a dual-class share structure or publicly known outsized voting rights, which means voting power is likely distributed according to equity stakes. Maintaining a clear focus on profitability, Flutterwave has not yet pursued an initial public offering (IPO), choosing instead to build its market presence and refine its business model.

Future Prospects and Industry Influence

With substantial backing and a solid foundation laid by its founders, Flutterwave is positioned as a leader in Africa’s fintech sector. The company’s ability to attract major investors underscores its strategic importance and potential for continued success. As Africa’s most successful fintech, Flutterwave continues to expand its services and geographical reach, capitalizing on the rapid digital transformation across the continent.

In conclusion, understanding who owns Flutterwave involves recognizing the blend of visionary founders and influential investors who together drive the company forward. As Flutterwave continues to scale, its ownership structure and strategic alliances will likely evolve, painting a dynamic picture of ongoing growth and innovation in fintech.