African payments company Flutterwave raises $170M, now valued at over $1B

African payments company Flutterwave announced that it has closed $170 million, valuing the company over $1 billion, TechCrunch reports.

New York-based private investment firm Avenir Growth Capital and U.S. hedge fund and investment firm Tiger Global led the Series C round. New and existing investors who participated include DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, PayPal, Salesforce Ventures, Tiger Management, Worldpay FIS 9yards Capital. 

The Series C round comes a year after Flutterwave closed its $35 million Series B and $20 million Series A in 2018. In total, Flutterwave has raised $225 million and is one of the few African startups to have secured more than $200 million in funding. 

Read more: TechCrunch