African Payment Startup Flutterwave Expands To India
Flutterwave Inc., one of Africa’s largest payments startups, is expanding to India after securing a partnership with IndusInd Bank Ltd., a leading financial institution in the Asian nation. The agreement will enable Flutterwave, worth an estimated USD 3 B, expand its remittance product into Asia’s second-biggest economy.
IndusInd Bank has approximately 35 million customers (reportedly) across the country, including individuals, large corporations, various government entities, according to information on its website. Since its founding in 2016, Flutterwave has rapidly expanded and now has a presence in about 30 African countries. “The Indian expansion for Flutterwave will be the first African company to do this at scale where remittances from India to Africa become seamless and quick,” Olugbenga Agboola, co-founder and CEO Flutterwave.
