Key Developments

Pan-African Fintech Flutterwave Acquires Money Transfer Licences for 13 States in the US to Facilitate Remittances for the African Diaspora

Pan-African fintech leader Flutterwave has acquired 13 new money transmission licenses in the United States, significantly expanding its reach in the crucial cross-border payments market.

With these licenses, Flutterwave can now facilitate remittances to and from approximately 29 US states through its popular Send App, enhancing accessibility for the African diaspora and businesses operating across the Atlantic.

“Acquiring these licenses strengthens our regulatory footprint and demonstrates our commitment to providing safe, reliable, and compliant financial services,” said Stephen Cheng, Executive Vice President for Global Expansion and Partnerships at Flutterwave.

This significant development comes four months after Flutterwave’s initial expansion into the US cross-border payment market.

Flutterwave’s proactive approach to acquiring licenses aligns with its strategy to solidify its position in the remittance space, particularly following regulatory challenges encountered in Kenya last year.

In recent months, the company secured International Money Transfer Operator (IMTO) licenses in Malawi and Rwanda and partnered with IndusInd Bank to launch Send App in India.

Flutterwave’s strategic acquisitions and partnerships position the company as a major player in the US-Africa remittance landscape.

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