Flutterwave To Delay Ipo Until Profitable, Nigerian Tech Entrepreneur Olugbenga Agboola Confirms
- Flutterwave will only pursue an IPO once it achieves profitability, prioritizing long-term value and a sustainable business model.
- The fintech giant has expanded rapidly, with a valuation reaching 3.2 billion in 2024, cementing its position as Africas top tech startup.
- New licenses in Ghana and Uganda expand Flutterwave's reach, while partnerships enhance security and compliance in digital payments.
Flutterwave, the San Francisco and Lagos-based fintech giant, led by Nigerian tech entrepreneur Olugbenga Agboola, has made it clear that its long-awaited initial public offering IPO will only take place once the company is profitable.
In a recent Bloomberg interview , Agboola explained that this decision is grounded in the companys commitment to building a strong and sustainable business, particularly in Africa, where profitability is a key measure of success.
For a company operating in Africa, thats a no-brainer profitability is very important, Agboola said, stressing that the primary goal is to create lasting value. Right now, the focus is: how do we build a profitable, resilient and scalable business, he added.
Agboola emphasized that the IPOs timing isnt just about being ready from an operational standpoint, but about delivering real, long-term value to its stakeholders.
A 3.2-billion fintech powerhouseSince its founding in 2016, Flutterwave has rapidly established itself as a key player in Africas fintech space. With dual headquarters in San Francisco and Lagos, the company has become one of the continents standout success stories in digital payments. Led by Agboola, Flutterwave now processes payments in over 30 currencies across 40 countries, solidifying its reputation as a major force in the industry.