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The year 2024 marked a milestone for African fintech leader Flutterwave, with its year-end report revealing an impressive $31 billion in processed transactions. This remarkable figure not only demonstrates strong growth but also highlights Flutterwave’s strategic expansion and its growing influence on the global financial stage.
Central to this success is Flutterwave’s expanding global presence. On the African continent, new operations in Rwanda, Ghana, Uganda, Zambia, and Mozambique have broadened its reach, while in the United States, the company secured 31 new Money Transfer Licenses and launched the Send App in 49 states—an initiative that underscores its international ambitions.
Flutterwave’s mission to connect Africa to the world and simplify cross-border transactions has driven its expansion efforts. In addition to geographical growth, the company has made significant technological advancements. Upgrades to its fraud detection system have increased card transaction speeds five-fold, resulting in substantial cost savings. Furthermore, the launch of Direct Debit in Nigeria and a strategic partnership with OPay—leveraging its extensive network of 40 million users—has diversified payment options and improved accessibility for customers.
The impact of these initiatives is evident in the performance of Flutterwave’s clients. Risevest, for instance, achieved a 93% customer journey completion rate during its market expansion, while Trove Finance reported a 100% success rate for bank transfers, underscoring the reliability and efficiency of Flutterwave’s platform.
December 2024 was a standout month for Flutterwave, with the company processing $500 million in transactions—its highest monthly volume ever. Coupled with a consistently strong performance throughout the year, these achievements signal a robust growth trajectory and position Flutterwave to continue reshaping the future of finance.
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