Nigerian Fintech Unicorn Flutterwave has announced the securement of money transfer licenses for 13 U.S. states.
This license will enable faster, more affordable, and secure transfer of money from the United States to Africa and back.
The states include Arizona, Arkansas, Maryland, Michigan, Delaware, Georgia, Maine, Mississippi, Missouri, New Hampshire, Iowa, North Dakota, and South Dakota.
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Flutterwave’s 13 new licenses is in addition to its partnership with another licensed financial institution which enables the startup to serve customers in 29 states in the U.S.
Announcing this feat, the company’s CEO Olugbenga Agboola said,
“I’m pleased to share that Flutterwave has acquired money transfer licenses in 13 new states in the US and can now operate in 29 US states. Making transfers to and from the USA is about to get faster, cheaper, and super secure. That’s great news for our Send App by Flutterwave and users and for our Flutterwave’s enterprise clients that use our trusted services for last-mile payout globally.
“In our bid to connect Africa to the global economy, we’re focused on providing trustworthy solutions that bridge that payment gap while also saving time, money, and effort! This is another step in that direction and I’m personally excited to see the massive opportunities that come from it. Our journey is just getting started and the road ahead is long but we’re more than capable.”
Also speaking on Flutterwave’s new license in the U.S, Executive President, of Global Expansion and Partnerships at Flutterwave Stephen Cheng said,
“Getting these licenses expands our regulatory footprint, demonstrates our ability to deliver services with safety and soundness, and fosters the trust of regulators, partners, and customers. We are growing and are committed to servicing customer needs in as many geographies as possible with a significant African Diaspora. These licenses reflect our commitment to working with regulators across various markets, following their requirements, and ensuring the safety of customer funds. We will continue to create an environment of safety and trust”.
Sending money from the United States to Africa can sometimes be challenging for the African Diaspora. With Flutterwave’s new money transfer licenses in the U.S, this will enable a swift and seamless transfer of funds.
This significant move solidifies Flutterwave’s position as a key player in the fintech ecosystem, reflecting the startup’s commitment to ensuring the easy flow of cross-border transactions from the diaspora community back home, via its Send App.
The company enables international payment processing in 150 currencies and multiple payment modes, including local and international cards, mobile wallets, bank transfers and barter by Flutterwave, among others.
With its resilience and commitment to the African community, Flutterwave continues to transform the way Africans transact on the continent and worldwide.