GRTech
Flutterwave Closes USD $250m in Series D Funding, Valuation Rises to Over USD $3bn


Flutterwave, a leading technology company, announced today that it has raised USD $250 million in Series D funding, valuing the company at over $3 billion as the brand continues to transform the way Africans transact on the continent and worldwide
Flutterwave has become the highest valued African start-up with this investment. It is a validation of African talent, innovation and its young inspiring people. It is also a huge endorsement in the growth of the business, innovation and technology landscape in Africa.
Flutterwave’s latest backers include some of the world’s most respected investors led by B Capital Group, and with participation from Alta Park Capital, Whale Rock Capital, Lux Capital, among others. Several existing investors who also participated in previous rounds also followed this round, including, Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital and Salesforce Ventures. The new funds will drive Flutterwave’s ambitious expansion plan to accelerate customer acquisition in existing markets and growth through M&A, and develop complementary products while encouraging new innovations in its products and services development. The Company will share more details during the Flutterwave 3.0 event. The virtual event is billed for 18th February 2022 and members of the public can RSVP here .
Since its inception in 2016, the Flutterwave team has been on a mission to create endless possibilities for customers and businesses in Africa and the emerging markets. The Series D fundraise comes on the back of an impressive run of five years in which Flutterwave has processed over 200M transactions worth over USD $16B to date across 34 countries in Africa. It also follows a year of rapid growth for the brand which now serves over 900,000 businesses across the globe.
In 2021, Flutterwave launched a range of new products including Flutterwave Market for merchants to sell their goods via an online marketplace and, most recently, Send, a remittance service that empowers customers to seamlessly send money to recipients to and from Africa. Flutterwave has also partnered with leading global and pan-African technology and telecommunication companies such as PayPal, MTN, Airtel Africa to drive financial inclusion on the continent and create endless possibilities for customers who can build customisable payment applications through its APIs.
Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said “Our story is that of resilience and hard work. Our growth so far is due to the support of our customers, our partners, the banks, the public, the regulators, and importantly our people. The Central Bank of Nigeria, under the leadership of Dr. Godwin Emefiele, laid the vision of a transformational Payment System in Nigeria, provided the framework for innovation in this space, and has continued to create regulations that have enabled us to grow and thrive. We are grateful to them and to all the other Central Banks in all the countries where we operate. We set out to build a platform that simplifies payments for everyone and today, our solutions are used across the globe to connect Africans to the world and the world to Africans. We are delighted that investors believe in us and our story and are committing their resources to this belief. This latest funding demonstrates the conviction of some of the world’s leading investors in both our business model, team and the Africa technology market. It gives Flutterwave the much-needed support to deliver on our plans to provide the best experience for our merchants and customers around the world.”
Matt Levinson, Partner at B Capital said, “At B Capital, we seek to back generational companies with broad platform potential. Flutterwave has a unique opportunity to accomplish this as the dominant payments infrastructure provider across Africa. In addition to their emergence as the leading enterprise payments processor for the continent, Flutterwave is innovating at breakneck speed with novel fintech solutions for large corporates, SMEs and consumers. I’ve had the pleasure of backing this world-class team since 2017 and couldn’t be more thrilled that B Capital is leading their Series D. Flutterwave may ultimately build one of the most consequential fintech business in the world, enabling hundreds of thousands of merchants to transact online and connect Africa to the global economy.”
David Glynn, Managing Partner of Glynn Capital, said: “We believe the digitization of payments globally is one of the largest and most important trends in technology. Having been investors in Flutterwave since 2017, we have had a front row seat in seeing Flutterwave establish itself as a leading payments company in Africa as it drives adoption of seamless digital payments experiences for merchants and consumers alike. We look forward to supporting the company as it addresses its significant growth opportunity in the years ahead.”
This latest fundraising has seen Flutterwave’s valuation more than triple since its last funding round in March last year when it became one of Africa’s fastest-growing Unicorn.


Technology Company, Globacom, has announced significant reductions in its International Direct Dialing (IDD) rates, making international calls more affordable for its existing and new customers across Nigeria.
Effective August 10, the new rates began applying to over 15 popular international destinations, including United States which will has moved to ₦30 per minute, down from ₦35, United Kingdom is now N350 from ₦400, while India also moved down to ₦40 from N45.
The rates for China, Saudi Arabia and Cameroon however recorded major reduction moving to N75, N300 and ₦700 respectively.
The reduction was also extended to African countries including Benin Republic which goes for ₦650 per minute, Niger Republic ₦750, Ghana ₦500, and Togo ₦650. United Arab Emirates also moved from ₦450 to ₦325, Germany to ₦550, Côte d’Ivoire ₦700, Libya ₦700, while calls to Malawi is now N1,100 from ₦1,200.
Glo aims to provide more value for its customers through these revised rates, encouraging them to make Glo their preferred network for international calls. New IDD bundles will also be introduced, offering frequent international callers even more attractive deals.
Globacom, which remained optimistic that frequent international callers will benefit immensely from the reductions in IDD bundles, enjoined customers to take advantage of the new rates to stay connected with friends and business associates across the globe.
GRTech
Oil subsidy removal freed up resources for infrastructure – Enugu Governor
By Orji Israel, South East Correspondent


The Executive Governor of Enugu State, Peter Mbah, has attributed the financing of numerous infrastructure projects embarked by the state government to the oil subsidy removal policy of the President Bola Ahmed Tinubu administration.
He made this declaration at the Govermment House, Enugu, during a courtesy visit by a delegation of federal government led by Minister of Information and National Orientation, Mohammed Idris, as part of activities lined up for the 2-day Citizens’ Engagement Series in the South East geo-political zone.
“For us in Enugu, we are able to accomplish all we promised our people during the campaign, thanks to the bold decision taken by President Bola Tinubu, which has freed up resources needed to execute humongous capital projects,” said Governor, while listing ongoing projects in the state, which include the construction of 7,000 classrooms, 3,300 hospital beds and 2,000-hectare of 260 farm estates across the 260 wards of the state.
Governor Mbah also pledged more support for the policies of the federal government, saying they are in the best interest of the people of the state.
TechNews
Samsung Launches Vision AI TV: A New Era in Home Entertainment, Celebrating 19 Consecutive Years as the Global No. 1 TV Brand


Samsung Electronics has announced the launch of its groundbreaking Samsung Vision AI TV, marking a bold new chapter in the company’s history of innovation and leadership in the television industry.
For 19 consecutive years, Samsung has held the position of the world’s No. 1 TV brand, a testament to its unwavering commitment to quality, design, and user experience. This remarkable journey of excellence has been defined by a series of world first innovations that have consistently set new standards in the industry.
From the debut of the Bordeaux LCD TV in 2006, admired for the world’s first sensuous design, to other breakthroughs like the first edge type LED TV, the first Smart TV with applications, the brilliance of 100% Color Volume QLED technology, and the refined Curved UHD TV, Samsung has never stopped setting new standards for what a TV can achieve.
Now in 2025, the company has taken another bold step forward with Samsung Vision AI which positions Samsung TVs as more than entertainment devices. They enhance content interaction, smart home functionality and synergy across devices, while maintaining strong privacy with the Samsung Knox security.
“Our mission has always been to create technology that feels personal, intuitive, and inspiring,” said Tae Sun Lee, CEO of Samsung Electronics West Africa. “With Vision AI, we’re not just offering a TV, we’re introducing a smarter, more connected way to live, building on almost two decades of global leadership.”
Samsung Vision AI is packed with features designed to make the TV experience smarter and more personal:
• Click to Search – Find information and personalized content recommendations about what you’re watching instantly, with just one click.
• Future-Proof Design – Enjoy 7 years of free OS updates so that your TV keeps evolving, unlocking new AI-powered experiences over time.
• Smart Home Control Tower – Effortlessly connect and control your Galaxy devices, Bespoke appliances, and other IoT products through SmartThings.
• Knox Security – Advanced protection to keep your personal information safe while you stay connected.
• Art & Entertainment – Seamlessly integrates with the Samsung Art TV lineup and offers immersive gaming, making it a hub for both creativity and play.
According to Oge Maduagwu, Head of Marketing & Communications, Samsung Electronics West Africa, “These new TVs are intelligent lifestyle hubs as they leverage Vision AI to deliver personalized, contextual, and seamless experiences that redefine television. Combining TV, AI Art, Live translations and sleek designs to set our TVs miles ahead of others”.
Continuing she said:
“Samsung’s 2025 TV lineup delivers our most advanced viewing experience yet, with innovations across OLED, Neo QLED, QLED, and lifestyle models. This year, we’ve introduced glare-free OLED and expanded anti-glare technology to more Neo QLED models, boosted brightness by up to 30%, and added high refresh rates up to 240Hz for ultra-smooth motion. Our new Vision AI enhances picture, sound, and even integrates smart home features like pet and family care monitoring.
“We’ve launched premium additions such as Neo QLED Mini-LED with wireless One Connect, plus Nigeria’s first 100-inch Neo QLED. From breathtaking picture quality to intelligent home integration, 2025 Samsung TVs are designed to deliver unmatched clarity, style, and connectivity.”
She reiterated Samsung’s commitment to shaping the viewing experience of tomorrow, with innovations designed to bring joy, connection, and inspiration to households worldwide.
“For years, customers have put their trust in Samsung TVs, trusting them to get quality and value for their money, thus, making them the global No.1 TV brand for 19 years consecutively and the brand continues to honor that trust by delivering products that exceed expectations.
“The new Neo QLED 8K, OLED, Neo QLED 4K, QLED & Crystal UHD TVs are now available at all authorized Samsung stores nationwide”, she Maduagwu added.
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