{"id":2806,"date":"2026-10-28T21:00:56","date_gmt":"2026-10-28T21:00:56","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/28\/after-10-years-as-payments-company-flutterwave-is-eyeing-banking-as-its-new-growth-strategy-businessday-ng\/"},"modified":"2026-10-28T21:00:56","modified_gmt":"2026-10-28T21:00:56","slug":"after-10-years-as-payments-company-flutterwave-is-eyeing-banking-as-its-new-growth-strategy-businessday-ng","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/28\/after-10-years-as-payments-company-flutterwave-is-eyeing-banking-as-its-new-growth-strategy-businessday-ng\/","title":{"rendered":"After 10 years as payments company, Flutterwave is eyeing banking as its new growth strategy \u2013 Businessday NG"},"content":{"rendered":"

Flutterwave, the African financial technology startup valued at $3 billion, is moving its next growth strategy from digital payments to banking as it seeks higher-margin growth across key continental markets.\n<\/p>\n

After ten years operating primarily as a payment gateway for global merchants and payment service providers, the Nigerian fintech plans to offer direct deposits, savings, and commercial lending.\n<\/p>\n

The shift follows the company\u2019s acquisition of a Nigerian banking license in April<\/a>, allowing it to hold customer deposits directly rather than relying solely on partner banks.\n<\/p>\n

\u201cOur claim to fame is obviously payments,\u201d chief executive officer Olugbenga \u201cGB\u201d Agboola said Wednesday during a panel at the Moonshot technology conference titled Next Phase of Fintech is Banking.\n<\/p>\n

\u201cBut if you can trust us with your payments, it is a much easier sell for us to keep the money for you. You can earn, pay, and then save.\u201d<\/p>\n

The next phase reflects a broader trend among mature fintech firms seeking to diversify revenues beyond transaction fees.\n<\/p>\n

Flutterwave, which has processed over $40 billion across more than one billion transactions, views pure payment processing as having reached a natural plateau.\n<\/p>\n

Having expanded its core platform through the all-stock acquisition of open-banking startup Mono, the company is now targeting Ghana and Kenya for its next phase of banking expansion.\n<\/p>\n

\u201cFrom day one, our vision has always been a pan-African company,\u201d Agboola said. \u201cThe next step is looking at our core markets and moving beyond payments.\u201d\n<\/p>\n

Entering the credit market presents higher profit margins alongside increased exposure to default risks and non-performing loans (NPLs).<\/p>\n

To mitigate credit risk, Flutterwave plans a phased rollout starting with working capital loans for its existing merchant base.\n<\/p>\n

The company plans to eventually extend credit into real-economy sectors, including manufacturing, before broadening its portfolio to target small and medium-sized enterprises (SMEs) sector by sector.<\/p>\n

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Businessday NG<\/div>\n","protected":false},"excerpt":{"rendered":"

Flutterwave, the African financial technology startup valued at $3 billion, is moving its next growth strategy from digital payments to banking as it seeks higher-margin growth across key continental markets.… <\/p>\n","protected":false},"author":1,"featured_media":2807,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/2806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=2806"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/2806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/2807"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=2806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=2806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=2806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}