@Bibiana wrote:
Iyinoluwa Aboyeji, Andela’s co-founder, the high profile Lagos-based startups which serves as a source of motivation for other aspiring entrepreneurs is saying goodbye to Andela to start a payments company as reported by Quartz Africa.
FlutterWave, is a digital payments infrastructure platform that will aggregate various payment methods for merchants, banks, and money transfer operators across Africa is Iyin new venture and he believes this is going to solve payments challenges facing Africa. “We see it as connecting Africa to the global economy,” Iyin noted. The Flutterwave team (who will work out of San Francisco, Lagos, and Accra) is currently being assembled and they’ve received funding from YCombinator (arguably the most popular seed accelerator programme in the world), VCFintech, a 12-week accelerator programme by FIS, and CRE VC, a South African Venture Capital fund (who’s also an investor in Andela, Angani, Delivery Science, Prepclass, etc) to get the company started.
QZ Africa reports that Flutterwave has been in private beta for weeks in Nigeria and Ghana, working with clients like Uber, Access Bank, Paystack, and Page Microfinance. In these weeks, it’s transacted around $20 million in value, and that uptick prompted Iyin to leave Andela to focus on payments full-time.
Looking at Iyin’s transition to building a payment company, one might need to ask who is going to steer the affairs of his position soon. However, other payments platform should be on the look out in other for them to scale. Anyway, the sky is enough for the birds to fly without conflicting each other. Good-luck to you Iyin.
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