Flutterwave obtains banking permit to enhance transaction speed

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Logo Mockup Collection by Asylab

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By Yinka Kolawole

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Flutterwave Inc., a payments technology company, said it has secured a banking licence which will enable the company hold funds and deposits directly.

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Olugbenga Agboola, founder and Chief Executive Officer (CEO) of the firm, announced the development in a statement.

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He said, “By operating with direct infrastructure, we can streamline our operations and accelerate payment flows for everyone.

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“Businesses can soon hold balances within Flutterwave, access improved treasury, and data-driven lending.”

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According to him “the milestone allows us to make our infrastructure more efficient and deliver faster, more reliable financial services”.

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Agboola described the approval as a pivotal milestone in the company’s 10-year journey to build the financial infrastructure that will power Africa’s future.

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“A decade ago, we started with a simple belief: better infrastructure changes everything. Payments failed too often, settlement was slow, and expanding meant rebuilding from scratch. So we focused on connecting what was fragmented,” he said.

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