In a series of groundbreaking developments, Flutterwave, a leading African fintech company, has recently announced several strategic partnerships to enhance its payment processing capabilities and expand its global reach. These collaborations underscore Flutterwave’s commitment to revolutionizing the financial landscape in Africa and beyond.
One of the most significant partnerships is with Acquired.com, a move designed to bolster card payment processing for Flutterwave’s Send App. This alliance will enable faster and more secure outward remittance transactions for U.K. and E.U. cardholders sending money to Africa. James Hardy, Senior Vice President of Consumer Business at Flutterwave, emphasized the company’s dedication to improving customer experience through collaborations with industry leaders. The partnership with Acquired.com will streamline the customer journey and enhance processing capabilities.
Flutterwave’s Send App, which underwent a rebranding in August 2023, allows customers to transfer money swiftly to local bank accounts and mobile money wallets. The collaboration with Acquired.com is set to refine this process further, offering a seamless experience for users. Mark Johnson, Commercial Director at Acquired.com, expressed enthusiasm about working with Flutterwave, highlighting the tailored solutions they’ve developed to address the unique challenges faced by payment infrastructure providers in Africa.
In another significant development, Flutterwave’s founder and CEO, Olugbenga Agboola, has been appointed vice chair of the U.S. Chamber of Commerce’s US-Africa Business Center’s board of directors. This appointment, announced at the US-Nigeria Executive Dialogue in New York City, received the endorsement of Nigerian President Bola Tinubu. The US-Africa Business Center lauded Flutterwave’s leadership in Africa’s digital revolution and expressed eagerness to explore the continent’s digital transformation. Agboola viewed this appointment as both a personal achievement and a fulfillment of Flutterwave’s commitment to connecting Africa to the global economy.
The most transformative partnership announced is Flutterwave’s five-year strategic technology collaboration with Microsoft. This alliance aims to accelerate payment innovation in Africa and drive the growth of small and medium-sized enterprises (SMEs) across the continent. As part of this partnership, Flutterwave will build its next-generation platform on Microsoft Azure, enabling it to process high-volume payments at scale and ensure a secure client payment experience.
The Microsoft-Flutterwave collaboration comes at a crucial time for Africa’s economic landscape. With SMEs employing around 90 percent of the continent’s population and often spearheading innovation, their success is vital for Africa’s progress. However, these businesses need more support, including limited access to financial services and difficulties in transacting across local payment methods.
Flutterwave’s mission aligns perfectly with addressing these challenges. By leveraging Microsoft’s technology, including Azure OpenAI Service, Flutterwave aims to scale its product offering to millions of merchants worldwide. The partnership will also see Flutterwave launch transactable solutions on Azure Marketplace, including its SMB finance-as-a-service offering.
Olugbenga Agboola expressed excitement about the Microsoft partnership, describing it as a “family reunion of visionaries and go-getters.” He emphasized that this collaboration goes beyond mere transactions, focusing on transformation and creating an inclusive digital Africa.
These strategic moves by Flutterwave demonstrate the company’s commitment to innovation and its pivotal role in shaping Africa’s digital financial future. By partnering with global technology leaders and expanding its presence in international business forums, Flutterwave is enhancing its capabilities and paving the way for increased financial inclusion and economic growth across the African continent.
