Let me congratulate the Flutterwave team for kickstarting that special moment. Yes, Flutterwave plans to list on Nasdaq, a stock exchange in the United States. It is a natural ascension since African exchanges hardly price technology companies well. Possibly, when it lists and does better than Jumia, new funds will flow into Africa to fund new empires of the future.
Nigerian and African-focused Fintech company, Flutterwave is preparing for an initial public offering (IPO) on the Nasdaq stock exchange, even as it deals with regulatory hurdles in its key markets.
Chief financial officer of the company, Oneal Bhambani, disclosed that the company has an attractive market potential, and its listing is an initiative of Flutterwave that is reaching the scale and trajectory comparable to what other investors seem to invest in public markets.
In his words;
“We have an attractive market potential and opportunity to do so now. We are a growth company, and we have a tremendous opportunity to invest and really develop solutions for the largest enterprises in the world that transact in Africa.
“The listing is an initiative of the payment company that is reaching the scale and trajectory comparable to what other investors seem to invest in the public markets”.
Flutterwave is currently valued at $3 billion, backed by B Capital Group and TPG, and has tapped talent from American Express’s Kabbage unit to bolster corporate governance ahead of the planned IPO.
(Sure, you will go there: the company needs to deal with regulatory issues to avoid enriching American trial lawyers and their class action activists. Unlike Nigeria where lawyers hardly solicit, in America, they have an industry to seek and discover cases. Those TV adverts flood airwaves as they seek clients to sue anything on the way.)
Let me wish them good luck. America the beautiful welcomes great stuff.
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Flutterwave Prepares for Initial Public Offering On Nasdaq Stock Exchange
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