Flutterwave got a new valuation after it was able to raise $250 million from a Series D funding round. The funding round sees the company’s valuation now stand at $3 billion, which makes the company Africa’s most valuable startup as of the time of this writing.
At $3 billion, using an exchange rate of N570 to one United States’ dollar, it means Flutterwave’s valuation is approximately N1.71 trillion. Because of its trillion-naira status, we took a look at the Stocks Worth Over One Trillion (SWOOT) and when compared to these legacy organizations that have attained this feat, and listed on the Nigerian Exchange Group (NGX), it reveals that Flutterwave is more valuable than Nestle Nigeria, which currently has a market capitalization of approximately N1.14 trillion as at close of market on Thursday, February 17, 2022.
Looking at the tier-1 banks, the FUGAZ, asides from being more valuable than each of them individually, Flutterwave’s new valuation means the firm is more valuable than the two most valuable banks listed on the NGX, ZENITH and GTCO, combined…
