African payments infrastructure company Flutterwave announced Tuesday a Series E round that values the company at $3.2 billion. This round, notably, includes an equity investment from payments blockchain company Ripple.
The company did not reveal the size of this round, although Flutterwave says it has now raised more than $500 million in funding to date.
Ripple’s stake is part of a plan to help both companies expand financial services on the African continent. Cross-border payments, the industry in which Flutterwave primarily operates, remain challenging in Africa due to fragmented banking systems, strict foreign exchange policies, currency volatility, and the routing of transactions through European cities like London, which causes delays.
Progress is being made, however, with companies like Flutterwave offering solutions in API unification, which refers to helping Africa operate as one market. Earlier this year, the fintech also bought the African banking startup Mono to adopt its API technology. And in October 2025, it introduced stablecoin solutions for businesses in partnership with Polygon Labs, which will let transactions bypass traditional banking systems for, the companies say, a more stable, faster, and cheaper way to send money.
With this latest deal, Ripple will provide Flutterwave with the infrastructure to expand its digital asset offerings. This works out for Ripple, too, as it is looking to expand its presence in Africa. Flutterwave operates in 35 countries across the continent.