Flutterwave, one of Africa’s fastest-growing fintech and payment solutions providers have made the exclusive Cloud 100 List, Forbes’ definitive ranking of the best, brightest, most valuable private companies in cloud.
According to Forbes, a funding frenzy helped catapult 34 new companies onto the list and boost their combined market value to $514 billion, nearly double the total of a year ago. The company which was founded in 2016 by Iyinoluwa Aboyeji and Olugbenga Agboola, is headquartered in San Francisco, California with operations in Nigeria, Kenya, Ghana, South Africa and seven other African countries.
The List, the sixth annual Cloud 100 ranking of the world’s top private cloud companies was produced in partnership with Bessemer Venture Partners and Salesforce Ventures. Specifically, it recognizes standouts in tech’s hottest category from small startups to private-equity-backed giants. The companies on the list, which hail from as far afield as Dublin and Bangalore, are selected for growth, sales, valuation and culture plus a reputation score derived in consultation with 34 CEO judges and executives from their public-cloud-company peers.
In 2021, Flutterwave raised a US$170 million Series C funding round. At the time, this was the largest amount ever secured by an African tech startup and gave it a valuation of over US$1 billion, making Flutterwave a unicorn. Investors in Flutterwave include Y-Combinator, Visa Ventures, Mastercard, Avenir Growth Capital and Tiger Global Management.