Flutterwave obtains banking licence to enhance payment services

Flutterwave Inc., a leading payments technology company, has announced that it has secured a banking licence, a move that will allow it to directly hold customer funds and deposits.

The company’s Founder and Chief Executive Officer, Olugbenga Agboola, disclosed this in a statement, noting that the licence marks a significant step toward improving the firm’s operational efficiency.

According to him, operating with direct financial infrastructure will help streamline processes and speed up payment transactions for users. He added that businesses using Flutterwave will soon be able to maintain balances on the platform, benefit from enhanced treasury management, and access data-driven lending solutions.

Agboola further explained that the approval will strengthen the company’s infrastructure, enabling it to deliver faster and more reliable financial services.

Describing the development as a major milestone, he said it reflects Flutterwave’s decade-long mission to build robust financial infrastructure across Africa.

He recalled that the company was founded on the belief that stronger infrastructure can transform financial systems, especially at a time when payment failures were common, settlement processes were slow, and expansion required rebuilding systems from scratch.

Flutterwave has since focused on connecting fragmented payment systems to create a more seamless financial ecosystem across the continent.