Flutterwave Obtains Key License in Nigeria Ahead of Planned IPO
- Firm now licensed to process payments without intermediaries
- Flutterwave planning Nasdaq IPO amid allegations of misconduct
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Flutterwave Inc., an Africa-focused financial technology firm, obtained a switching and processing license for electronic payments in the continent’s biggest market Nigeria as it seeks to expand across the region.
The permit from Nigeria’s central bank enables Flutterwave to process fund transfers between banks and fintechs, handle card transactions, participate in agency banking and engage in other payment services without an intermediary, it said in emailed statement on Thursday.