According to Olugbenga Agboola, CEO and co-founder of the Pan-African payment company, Flutterwave is pressing ahead with the initial public offering (IPO) after resolving its allegations of impropriety in Kenya.
“There’s some kind of customers we’ll attract when we are in public. The large global clients need you to have the same level of compliance and level of global view that they have.”
Flutterwave, which is presently in 30 African countries has funding rounds through Agboola which triples the company’s valuation to US$3 billion.
The company which is based in Lagos and San Francisco has investments from capital firms such as Tiger Global Management, Alibaba Alipay, Netflix and Uber Technologies.
“As Africa’s largest Fintech and the only one still having breadth across the continent, it offers public market investors the best potential to invest in Africa.” Lexi Novitske, a partner with Norrsken22 said
Agboola added that the company’s shares in Nigeria and New York may be sold out because the market are not great at the moment.