Flutterwave, Africa's most valuable fintech company, has raised a Series E funding round at a $3.25 billion valuation after an investment from Ripple, a United States-based blockchain payments company. The investment amount was not disclosed, though Flutterwave founder and CEO Olugbenga 'GB' Agboola confirmed Ripple made 'a significant actual cash investment' and is now an equity shareholder. The deal centers on integrating RLUSD, Ripple's stablecoin, into Flutterwave's payment infrastructure to enable merchants and consumers to send, hold, and convert money using stablecoins. Agboola cited three factors behind choosing Ripple: technology infrastructure, regulatory credibility, and the ability to move money more cheaply and quickly across borders. The valuation represents a modest increase from the $3 billion Flutterwave reached in February 2022 during its $250 million Series D round led by B Capital.
Ripple Investment Brings RLUSD Stablecoin to Flutterwave's Payment Rails
Ripple's RLUSD stablecoin and the XRP Ledger will plug into Flutterwave's payment rails to power cross-border settlement across the continent. Agboola stated that cross-border value movement is 'one of the most underserved and highest-growth markets globally right now.' He described the synergy: 'We bring Africa's infrastructure at scale. Ripple brings expertise in digital settlement and stablecoins. Together, this helps solve actual customer problems.' Agboola forecasted at least a 30% jump in Flutterwave's total stablecoin volumes from the Ripple deal and described the broader opportunity in cross-border flows as 'massive.'
Flutterwave Valuation Rises to $3.25 Billion in Primary Funding Round
Agboola confirmed the round was a primary investment, with cash going onto Flutterwave's balance sheet. No secondary sale of existing shares took place, though Agboola said a secondary is possible later. The $250 million valuation increase from the February 2022 Series D represents a modest step for the company, particularly given licensing wins and acquisitions pursued since the last funding round. Agboola addressed the valuation: 'Valuation is useful, but it should not be confused with value. A higher valuation can be validating. But valuation is also an opinion at a point in time. What matters is: is the company building sustainably? Are you serving customers well? Valuation, for me, is not the objective. It is a byproduct.'
RLUSD Integration Allows Users to Hold and Transfer Dollar-Backed Stablecoin
RLUSD, Ripple's dollar-backed stablecoin, launched in December 2024 and has a market value of roughly $1.26 billion. It is backed one-to-one by cash and short-term US government securities and runs on both Ethereum and the XRP Ledger. RLUSD becomes one of several stablecoins Flutterwave's customers can pick at the point of a transaction. Agboola compared it to choosing a bank: 'Depending on your preference as a customer, you will be able to choose your preferred stablecoin for the transaction. It is the same as choosing a bank. You choose your preferred bank and proceed.'
Users will be able to hold RLUSD directly on Flutterwave. The on-ramp and off-ramp run through a customer's bank: deposit local currency, go to the platform, choose the currency and the stablecoin, set the exchange rate, and transfer. The same flow works in reverse, moving from stablecoin back to fiat. The RLUSD integration will go live in every country where Flutterwave operates, shaped by the specific requirements of each regulator.
Flutterwave Expands Infrastructure with Banking License and Mono Acquisition
Flutterwave acquired a Nigerian microfinance banking license and the open-banking startup Mono in a January 2026 acquisition. The company has rebuilt its Send app into an infrastructure layer for currency wallets and stablecoin balances. Agboola stated: 'We are now running a multi-product platform. We have banking, we have payments, we have everything, and now we have stablecoins. That is in line with our goal to be a one-stop shop for financial services.' He added: 'Nobody has our infrastructure at scale right now. We do not see competition for this.'
Multi-Stablecoin Strategy Includes Circle, Polygon, and Stripe-Backed Tempo
Flutterwave is not tying itself to a single chain or coin. Agboola said the company is agnostic and supports every stablecoin. The Ripple deal joins a stablecoin stack the company has been assembling for over a year: it joined the Circle Payment Network in 2025, named Polygon its default settlement chain in October 2025, launched merchant stablecoin wallets with Turnkey and Nuvion in January 2026, and added Stripe-incubated Tempo as a settlement layer in June 2026. RLUSD and the XRP Ledger now sit inside that multi-rail setup.
FAQ
What did Flutterwave announce about its Series E funding round?
Flutterwave raised a Series E funding round at a $3.25 billion valuation with an investment from Ripple. The investment amount was not disclosed, but CEO Olugbenga Agboola confirmed it was a significant cash investment that made Ripple an equity shareholder. The round was a primary investment with no secondary sale of existing shares.
How does RLUSD integrate into Flutterwave's payment platform?
RLUSD becomes one of several stablecoins Flutterwave customers can select during transactions. Users can hold RLUSD directly on Flutterwave, with on-ramp and off-ramp processes running through a customer's bank. Customers deposit local currency, choose the currency and stablecoin, set the exchange rate, and transfer. The integration will go live in every country where Flutterwave operates, adapted to each regulator's requirements.
What other stablecoin partnerships has Flutterwave established?
Flutterwave joined the Circle Payment Network in 2025, named Polygon its default settlement chain in October 2025, launched merchant stablecoin wallets with Turnkey and Nuvion in January 2026, and added Stripe-incubated Tempo as a settlement layer in June 2026. CEO Agboola stated the company is agnostic and supports every stablecoin.
