Flutterwave Rejects Claims of $75M Government Funding and Clarifies IPO Plans
Flutterwave says it has no record of a $75 million investment by the federal government, pushing back on local reports that President Tinubu approved the deal through the Ministry of Finance. The payments startup also dismissed claims that it plans to raise $250 million in an imminent IPO. In a statement to media, Flutterwave described the figures as inaccurate and confirmed it is not close to any public listing. CEO Olugbenga Agboola has reiterated that the company’s focus remains on strengthening internal systems, corporate governance and operational maturity before pursuing any public offering. If and when an IPO happens, Flutterwave says it would consider a domestic listing first. A public debut for Africa’s most valuable fintech would mark a milestone for the Nigerian tech sector. For now, however, the firm is prioritising compliance and readiness over near-term fundraising.
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