Iyinoluwa Aboye, the co-founder of Andela, one of Nigeria’s foremost and highly successful start-up technology companies is saying goodbye to Andela to resume at his new start-up company, Flutterwave.
This comes just eight weeks after raising $24 million in a funding round led by Mark Zuckerberg’s foundation for Andela.
Flutterwave is a payments solution platform that incorporates various payment options for businesses, banks and money transfer organizations.
Speaking on the idea behind his new start-up, he said in a parting email to his former company, ”Despite all the entrepreneurial spirit and expertise in Lagos, businesses still have trouble conducting transactions that are an afterthought in most of the world. It’s a problem that is prohibitive to the future growth of the continent, and one that I felt I could no longer ignore. So I decided to do something about it.”
He says they have received an undisclosed seed funding from Silicon Valley’s Y Combinator, South Africa’s CRE VC, and VCFintech, a Little Rock, Arkansas based accelerator which is backed by major Fintech firm, FIS.
Flutterwave has already transacted more than $20 million to date working with clients including Uber Nigeria, Access Bank, Paystack, and Page Microfinance.
The company currently has operations in San Francisco, Lagos, and Accra and the founding team comes with ample working experience from pan-African banks as well as leading tech firms including PayPal and Google Wallet.
So far, the Flutterwave platform is live in just Nigeria and Ghana, but the company plans to extend its services across 32 African countries in all, including Nigeria and Ghana.
Although he expressed his sadness at having to leave Andela, he says he will continue in an advisory capacity for the company henceforth.
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