Flutterwave Expands US Footprint with Money Transfer Licenses in 13 States
African payments leader, Flutterwave, has acquired money transfer licenses for 13 additional states in the United States, marking a significant step in its global expansion strategy. This move aims to facilitate faster, cheaper, and more secure money transfers between the US and the African continent.
Covering states like Arizona, Arkansas, Georgia, and Michigan, the licenses allow Flutterwave to operate in a total of 29 US states. This expanded footprint significantly increases its reach and further strengthens its existing partnership with a licensed financial institution.
Flutterwave CEO and co-founder Olugbenga Agboola announced this strategic acquisition on his social media, highlighting its crucial role in connecting Africa to the global financial landscape. This expansion complements Flutterwave’s recent entry into the Indian market through a landmark partnership with IndusInd Bank, showcasing its commitment to providing seamless and easy-to-use money transfer solutions for the African diaspora worldwide.
The newly acquired licenses are viewed as key to Flutterwave’s mission to simplify payments and bridge the gap between global financial ecosystems. This strategic move will benefit both individuals using the Send App for personal transfers and businesses utilizing Flutterwave’s global payout services.
Flutterwave’s dedication to regulatory compliance is evident in its commitment to exceeding safety and security standards. Executive Vice President of Global Expansion and Partnerships, Stephen Cheng, emphasizes this commitment, stating, “These licenses strengthen our regulatory footprint and demonstrate our dedication to providing safe and sound services that earn the trust of regulators, partners, and customers.“
With these added licenses, Flutterwave’s Send App, specifically designed for US-Africa money transfers, becomes more accessible than ever. This move reiterates the company’s unwavering focus on bridging global payment gaps, simplifying transactions, and offering reliable solutions for users worldwide.
Further solidifying its position as a trusted financial player, Flutterwave recently received a favorable ruling in the Kenyan High Court, clearing their name of money laundering allegations. This legal victory allows Flutterwave to fully focus on its mission of simplifying payments and creating boundless opportunities for individuals and businesses across the globe.
Flutterwave’s continued expansion and commitment to innovation are paving the way for a more interconnected and financially inclusive future. By bridging the gap between global financial ecosystems, Flutterwave is empowering users and businesses to participate in the global economy with greater ease and efficiency.