Ripple has acquired a stake in Flutterwave, one of Africa’s largest fintech companies. The deal values Flutterwave at $3.3 billion, although neither company has disclosed how much Ripple paid for the shares or the size of the ownership stake acquired.
The investment was confirmed by Flutterwave CEO Olugbenga Agboola in an interview with Bloomberg. He emphasized that Ripple has not entered into a commercial partnership with the company but has instead become a shareholder. This means the U.S.-based blockchain company will participate in Flutterwave’s future growth and value creation.
The newly raised capital is expected to support Flutterwave’s continued expansion across Africa’s payments sector. The company currently operates in 35 countries and is considered one of the continent’s most valuable technology startups.
The investment aligns with Ripple’s long-term strategy of expanding its presence in cross-border payments. The company provides blockchain-based payment solutions in more than 90 countries and has been steadily strengthening its footprint in Africa. Its regional partners include South Africa’s Absa Bank and payment service provider Chipper Cash.
At the same time, Flutterwave has been expanding its digital asset offerings. Last year, the company launched stablecoin-based payment services, allowing individuals and businesses to store and transfer dollar-pegged digital tokens. The initiative forms part of a broader effort to integrate blockchain technology into Africa’s financial ecosystem.
Through this investment, Ripple gains access to one of the largest fintech networks on the continent. Flutterwave, in turn, will benefit from additional technological expertise and support from a company with extensive experience in international payments.
Ripple is also accelerating its expansion across the Middle East and Africa. The company recently opened a new regional headquarters in the Dubai International Financial Centre (DIFC). The larger office is expected to support workforce growth and further expansion across regional markets.
The company’s growth ambitions are being supported by favorable local regulations. The Dubai Financial Services Authority has granted Ripple a license to provide regulated international payment services within the DIFC. More recently, the regulator also approved Ripple’s RLUSD stablecoin for use by licensed entities operating within Dubai’s financial center.
