Flutterwave, an African payments company, said on June 16 it closed a series E round at a US$3.2 billion valuation, with Ripple taking an equity stake as the companies plan to expand stablecoin-based and cross-border payments in Africa.

The company did not disclose the round size, but said it has raised more than US$500 million to date. Its last disclosed round raised US$250 million in 2022 at a valuation of more than US$3 billion.

Flutterwave said Ripple will provide infrastructure to expand its digital-asset offerings.

Ripple’s cross-border payments platform supports payouts in fiat currencies and stablecoins, including RLUSD.

Flutterwave said it operates in 35 countries across Africa and is already licensed by the Central Bank of Nigeria for its Send remittance product, and has other regulated remittance arrangements in the UK, Europe, and Canada.

The deal comes as regulators across Africa are formalizing digital-asset rules.

Nigeria recognizes digital assets as securities, South Africa licenses crypto-asset providers, and Kenya is putting stablecoin issuers under central bank oversight.

🔗 Source: TechCrunch

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