On Wednesday, October 27th, 2021, Flutterwave CEO Olugbenga Agboola had the honour of ringing the closing bell at the New York Stock Exchange (NYSE). Flutterwave is a Nigerian fintech company that operates in over 33 African countries, providing payment services to individuals and businesses. This event marks a significant milestone for the company, as it continues to expand and gain recognition on the global stage.
The ceremony began with a speech from an NYSE executive, who welcomed Agboola and highlighted the importance of the fintech industry in today’s economy. The NYSE is the largest stock exchange in the world by market capitalization, and ringing the closing bell is a symbolic gesture that signifies the end of the trading day. Agboola then rang the bell, accompanied by members of the Flutterwave team.
In a statement, Agboola expressed his excitement and gratitude for the opportunity to ring the bell, stating that it was a proud moment for him and the entire Flutterwave team. He also acknowledged the role of Flutterwave’s customers and partners in the company’s success, stating that “this achievement is a testament to the trust they have placed in us over the years.”
Flutterwave has been growing rapidly in recent years, driven by the increasing demand for digital payment solutions in Africa. The company’s platform allows individuals and businesses to make and receive payments from anywhere in the world, using a variety of payment methods such as debit cards, bank transfers, and mobile money. Flutterwave has also partnered with major global payment providers such as PayPal and Worldpay to enable cross-border transactions.
In 2020, Flutterwave raised $170 million in a Series C funding round, led by Avenir Growth Capital and Tiger Global Management. The company has also attracted investment from notable figures such as Jack Dorsey, the co-founder and CEO of Twitter, and Michael Seibel, the CEO of Y Combinator. These investments have enabled Flutterwave to expand its operations and enter new markets, such as the United States and Europe.
Flutterwave’s success has also been recognized by industry experts and media outlets. In September 2021, the company was named the Best Fintech Solution at the AppsAfrica Awards, which recognizes innovation in mobile and tech across Africa. Flutterwave was also included in TIME Magazine’s list of the 100 Most Influential Companies of 2021, which highlights companies that are shaping the future of their industries and the global economy.
The fintech industry in Africa has seen significant growth in recent years, as more people have gained access to mobile phones and the internet. According to a report by the African Development Bank, the value of Africa’s digital payments industry is expected to reach $1 trillion by 2025. Fintech companies such as Flutterwave are well-positioned to capitalize on this growth, by providing innovative solutions that meet the needs of consumers and businesses across the continent.
In conclusion, Flutterwave CEO Olugbenga Agboola ringing the closing bell at the NYSE is a testament to the company’s success and the growing importance of the fintech industry in Africa. As Flutterwave continues to expand and innovate, it is likely that we will see more African fintech companies gain recognition on the global stage. This is an exciting time for the African tech industry, and Flutterwave is at the forefront of this growth.