#18: Flutterwave - From Y Combinator to becoming one of Africa’s largest FinTech platforms
December 13, 2020
18
01:20:49184.99 MB

#18: Flutterwave - From Y Combinator to becoming one of Africa’s largest FinTech platforms

Overview: Today, we’re going to talk about Flutterwave - the African payments infrastructure company - we’ll give some context of the Nigerian payments sector before 2014, Flutterwave's founding, early history, growth over time & end with our views on its future outlook. This episode was recorded on Dec 13, 2020.


Companies discussed: Flutterwave, Y Combinator (YC), Fora.com, Interswitch, Adyen, Visa, MasterCard, Stripe, Shopify & Paystack


Business concepts discussed: Payments ecosystem, payments partnerships strategy, startup accelerators, payments infrastructure, low-end disruption, banking regulation & payments M&A strategy


Conversation highlights:

  • (1:35) - Why Flutterwave is important
  • (04:10) - Background on Iyin “E” Aboyeji
  • (11:38) - How payments worked before Flutterwave (before 2014) in Nigeria
  • (16:40) - Flutterwave closed beta and Y Combinator 2016
  • (19:36) - Flutterwave growth and product launches
  • (30:15) - Fundraising - Series A, Series B and valuation
  • (42:50) - Partnerships - Visa, AliPay & WorldPay
  • (48:00) - Payments landscape and competition
  • (57:56) - Flutterwave today
  • (1:02:42) - Bankole’s overall thoughts and outlook
  • (1:06:10) - Olumide’s overall thoughts and outlook
  • (1:14:29) - Recommendations, small wins and open questions


Olumide’s recommendations, small wins & open questions:

  • Recommendation: Millionaires Unveiled podcast episode 47: $40K salary and $1.4M net worth. Loved the story of happiness and perseverance and being contrarian to live a unique life
  • Small win: Drinking Kale/berry smoothie mix (vs 2 blending vegetables and berries separately)
  • Open question: What are the next FinTech platforms? What can be built on top of flutterwave?


Bankole’s recommendations, small wins & open questions:

  • Recommendation: Productive Uncertainty | Reaction Wheel - link
  • Small win: Getting to Division 2 in FIFA 21 Online seasons
  • Other content: Flutterwave on Y Combinator
  • Open question: What do you think are potential exit options for Flutterwave?


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