Flutterwave hits $3.2B valuation with Ripple backing

African payments startup Flutterwave has achieved a $3.2 billion valuation following a Series E funding round that includes an equity investment from Ripple. This partnership aims to expand financial services across the African continent, addressing challenges in cross-border payments like fragmented banking systems and currency volatility. Flutterwave's solutions, including API unification and stablecoin offerings, are designed to create a more stable, faster, and cheaper money transfer system. Ripple's involvement will bolster Flutterwave's digital asset capabilities, while also furthering Ripple's own expansion goals in Africa, where Flutterwave currently operates in 35 countries.