Tiger-Backed Flutterwave Triples in Value to Over $3 Billion (2)

Flutterwave Inc., an Africa and emerging markets-focused payments firm, more than tripled its valuation in less than a year to over $3 billion following its latest fund-raising.

B Capital Group led the $250 million round, with participation from Alta Park Capital LP, Whale Rock Capital and Lux Capital, Flutterwave said in an emailed statement on Wednesday. The investment has enabled the company to become the “highest valued” African startup, it said.

The company will use the funds to expand through mergers and acquisitions in Africa and the Middle East in the coming months, said Co-founder and Chief ...