Flutterwave launches new product offerings and features after Series D funding

Flutterwave, a Nigerian fintech unicorn, has unveiled new product offerings and features for individuals, business owners, and developers just two days after raising $250 million in Series D funding.

This announcement was made on the company’s official social media accounts.

Flutterwave CEO Olugbenga Agboola stated in a video announcement that Flutterwave is opening up a whole world of new possibilities for users.

“With our current mission to simplify payments for endless possibilities, we are now so much more. To explain that, we have to express ourselves differently. Creating a world of endless possibilities requires a different mindset, approach and thinking. Here is what that looks like for us today”

Olugbenga Agboola, CEO of Flutterwave

The first noticeable improvement is the new dashboard design. It has now been completely rebuilt to assist users in seamlessly managing and growing their businesses. Along with this, the new Checkout system makes it easier for users to select their preferred payment method. Apple Pay and Google Pay are two new payment methods that have been introduced.

Furthermore, businesses can now create and manage virtual and physical cards. This gives merchants access to better expense management, new revenue lines, the creation of new businesses, and international payment cards. Virtual cards are available worldwide, whereas physical cards are only available in Nigeria.

Flutterwave can now offer business loans

Flutterwave Capital is one of the most intriguing new products. Flutterwave Capital offers a business lending marketplace to help Flutterwave merchants grow their businesses.

Flutterwave is powering this solution in collaboration with lending partners from traditional banks such as Wema Bank and Zenith Bank, as well as microfinance banks such as CashConnect Microfinance Bank and MoneyWise Microfinance Bank.

Merchants who use Flutterwave can now easily access collateral-free loans thanks to Flutterwave Capital. Loan applications are processed and approved in less than two business days, without the usual stringent documentation and conditions that are often associated with borrowing from other financial institutions.

For the time being, this feature is only available to Nigerian merchants. Merchants who have used the platform for at least three months and processed a certain amount of volume are eligible.

The lending partner on Flutterwave determines the loan’s interest rate. Loan repayment begins the day after the loan is accessed. To accomplish this, the loan amount due each day will be deducted from daily sales before being deposited into the merchant’s wallet or bank account.

Fintech-as-a-service

This new upgrade is available to developers who want to integrate financial services into their products. Instead of building infrastructure and seeking licenses from the ground up, developers can use Flutterwave Fintech as-a-service to create apps that allow customers to easily hold funds in their wallets, pay bills, create virtual cards, and do so much more.

With all of that, we can only hope for more and keep an eye out for other technological solutions from other innovators.