Ripple Takes Stake in African Fintech Flutterwave

Ripple has acquired a stake in African fintech company Flutterwave, a move that would pair Ripple’s blockchain payments infrastructure with Flutterwave’s local network as demand for cross-border payments grows across the continent.

Flutterwave sold part of its equity to Ripple, Bloomberg reported on June 16. The investment valued Flutterwave at $3.3 billion. The size of the investment and Ripple’s ownership stake were not disclosed.

Flutterwave Chief Executive Officer Olugbenga Agboola told Bloomberg the company raised capital through Ripple’s cash investment. The partnership will also expand access to payments infrastructure across Africa, he said.

Agboola said Ripple and Flutterwave were aligned in their aim of making remittances faster and more efficient. He emphasized that Ripple joined not only as a commercial partner but also as an equity investor, meaning it would also participate in future upside.

Flutterwave operates in 35 African countries. Last year, it expanded its digital-asset payments business by launching a stablecoin-based payments service that allows businesses and consumers to transact and hold dollar-pegged tokens.

Ripple provides crypto payment solutions for businesses in more than 90 countries. It has recently expanded its footprint in Africa through partnerships with South Africa’s Absa Bank and payments company Chipper Cash.

The investment comes as demand rises in Africa for low-cost, high-speed cross-border payments. Ripple will gain access to Flutterwave’s broad local fintech network, while Flutterwave can use Ripple’s blockchain payments infrastructure and expertise to expand both traditional payment services and blockchain-based offerings.

The deal could strengthen Ripple’s push into Africa’s payments market while supporting Flutterwave’s expansion in digital-asset payments.