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Olugbenga Agboola, the co-founder and CEO of Flutterwave, expressed excitement about this development, stating, “The Indian expansion for Flutterwave will be the first African company to do this at a scale where remittances from India to Africa become seamless and quick.” Agboola, who is currently in India with Nigeria’s tech minister, Bosun Tijani, and President Bola Tinubu ahead of the upcoming G20 summit, also mentioned plans to seek additional partnerships to strengthen their presence in India.
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This expansion into India follows Agboola’s announcement of Flutterwave’s intent to proceed with its IPO plans. The startup has been actively expanding its international partnerships and market reach since June, aligning with its IPO preparations. This recent partnership with IndusInd serves as a significant step forward for the Lagos-based fintech company’s path to going public.
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In June, Flutterwave secured a payment services license in Egypt and established Kigali as its settlement hub in East Africa. In July, the fintech announced an integration with the International Air Transport Association’s (IATA) Financial Gateway (IFG) to enable Africans to pay their airline fees in their local currencies. Despite facing challenges, such as a Kenyan court freezing its accounts in June, Flutterwave received name approval for its remittance business in August and has moved closer to obtaining a money remittance license from the Central Bank of Kenya. Featured Image Source: Benjamin Dada
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