African payments company Flutterwave has announced a Series E funding round that values the company at $3.2 billion, with blockchain payments firm Ripple participating as a strategic investor.
The company did not disclose the amount raised in the latest round but said it has secured more than $500 million in total funding since its inception.
Flutterwave said Ripple’s investment forms part of a broader collaboration aimed at expanding financial services and improving cross-border payments across Africa.
Cross-border transactions remain a major challenge on the continent due to fragmented banking systems, foreign exchange restrictions, currency volatility and the reliance on international clearing routes that often pass through financial centres such as London, resulting in delays and higher costs.
The company has been expanding its infrastructure to address these challenges. Earlier this year, Flutterwave acquired African banking technology startup Mono to strengthen its API capabilities. In October 2025, it also partnered with Polygon Labs to introduce stablecoin-based payment solutions designed to offer faster and more cost-effective transactions.
Under the new partnership, Ripple will provide infrastructure to support Flutterwave’s digital asset services as both companies seek to expand their footprint across Africa. Flutterwave currently operates in 35 African countries.
