Flutterwave promotes over 100 employees globally

Flutterwave has promoted more than 100 employees globally and introduced new support measures for staff as the Nigerian fintech marks its tenth year in business.

The company said the promotions cover about 25% of its workforce. It also introduced cost-of-living adjustments, tax support for employees in Nigeria, and a one-time economic relief payment for staff worldwide.

Flutterwave did not disclose which teams or job levels received the promotions.

The promotion is coming at a time when several African fintechs are focused on cutting costs and improving efficiency. Companies including Branch, Kuda, and Quidax have reduced staff numbers in recent years.

“I often say our people are our secret sauce,” founder and CEO Olugbenga Agboola said. “They are the ultimate engine behind everything we build.”

The initiative highlights Flutterwave’s effort to keep top talent as it grows into a larger financial services company. Across Africa, fintech firms are increasingly using incentives and employee benefits to improve retention.

For example, South Africa’s GoTyme Bank recently announced plans to launch an employee ownership programme. The bank said it would help align staff with its long-term growth plans.

Founded in 2016, Flutterwave started by helping businesses accept payments across African markets. Since then, it has expanded into remittances, consumer financial services, and banking infrastructure.

In April, the company strengthened its position in Nigeria’s financial sector. It secured approval to acquire a microfinance banking licence, giving it a regulated banking vehicle in its home market.

Flutterwave said it has processed more than one billion transactions since launch. It has also handled over $40 billion in total payment value.

“Our goal has always been to build an environment where our people can focus on doing their best work,” said Annette Akpolo, the company’s Head of People and Culture.

The company also reported strong growth across local payment channels. Wallet-based collections rose 289% over the past year. Meanwhile, bank transfer value increased by 184%.

The announcement adds to a busy year for Flutterwave. In January, it acquired Nigerian open banking startup Mono. The deal expanded its financial data capabilities and strengthened its account-to-account payment services.

For Flutterwave, the latest employee programme is both a reward for staff and a sign of confidence in future growth.

“At Flutterwave, growth is earned through meaningful contributions to the business and the mission we are building together,” Agboola said.