Tech in Africa
Flutterwave has just launched the Flutterwave store, an online platform that will enable African SMEs to conduct business during the COVID-19 pandemic. The online store will allow retailers to transact with their clients online in a secure manner without having to worry about delivery. The platform oversees payments and the delivery of products, meaning transactions can be done from the comfort and safety of the home.
Flutterwave Store will be launched in 15 African countries and limit the fees charged to inventory. After showcasing their company profile, users can link their businesses to a suitable payment option. SMEs can create an online storefront where buyers and sellers transact their goods.
Upon creating an account, users can link their inventory to the most suitable payment option. Flutterwave will rely on third-party logistics providers such as Sendbox of Nigeria and Sendy in Kenya to conduct pickups and deliveries.
Flutterwave CEO, Olugbenga Agboola, clarified that the company is not planning to change its core business model which is a “B2B payment infrastructure” company. He expressed how they have no intention of “becoming an online retailer” such as Jumia.
Flutterwave launched back in 2016, as a platform that allows clients to tap into it’s APIs while working with developers to achieve custom payment applications. Among their customers are Uber and Booking.com.
In July 2019, the fintech company partnered with e-commerce giant Alipay to support digital payments between China and Africa. In January this year, they raised a $35 million Serie B funding.
