Nigeria’s payment technology company, Flutterwave, is now valued at over $1 billion (N381,250,000) after closing a $170m Series C funding round, arguably the largest amount ever secured by any African outfit.

The fintech company on Wednesday disclosed that it secured USD $170 million from a leading group of international investors as part of a successful Series C round led by New York-based private investment firm, Avenir Growth Capital and U.S. hedge fund and investment firm, Tiger Global.

“The fundraise brings the total investment in Flutterwave to USD $225 million and is one of only a very small number of African fintech companies to have raised significant funds in a period of widespread disruption and economic uncertainty,” says the company which started in Lagos in 2016.

The startup headquartered in San Francisco raised a total of $10m in Series A funding in August 2017.

According to Techcrunch, 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.

Speaking on the achievement, Founder and CEO of Flutterwave – Olugbenga Agboola noted that the “successes would not be possible without 0ur amazing team, the trust and support we have received from our investors and customers and regulatory bodies.”

He added that they “may consider the possibility of listing in New York or a possible dual listing in New York and Nigeria.”

In the statement cited by WuzupNigeria, Agboola stated that Flutterwave “look forward to increasing our investments across the continent and deepening the impact our platform has on lives and livelihoods as we take more businesses in Africa to the World, and at the same time continue to bring more of the World to Africa.”

Flutterwave has an active presence in 11 African countries, including Nigeria, Ghana, Kenya, and South Africa, and at the time of its Series B just over one year ago had processed 100 million transactions valued at over $5.4bn for global leaders including Uber and Booking.com.