Flutterwave denies $75m FG investment, says IPO reports premature

African fintech firm Flutterwave has dismissed reports claiming it secured a $75 million investment from the Federal Government of Nigeria, describing the claims as inaccurate.

In a statement, the company said no such investment has been formally announced or concluded, adding that recent reports may have stemmed from misinterpretation of ongoing engagements.

Flutterwave also addressed speculation about a possible Initial Public Offering (IPO), clarifying that any suggestion of an imminent listing is premature.

The company explained that references in earlier reports likely relate to potential private capital raising, such as a Series E funding round, which is typical for scaling technology firms and distinct from a public listing.

It noted that any future IPO would depend on several factors, including market conditions, regulatory readiness, and long-term value considerations.

Flutterwave added that it routinely engages with institutional and sovereign stakeholders as part of its global expansion strategy, stressing that such interactions do not necessarily indicate concluded transactions.

The firm urged the public and stakeholders to rely on official corporate disclosures, warning that ongoing discussions can sometimes be misrepresented before formal announcements are made.

Highlighting its growth, Flutterwave said it has processed over $50 billion across more than one billion cross-border transactions.

It also pointed to recent milestones, including the acquisition of Mono, an open banking infrastructure provider, and the securing of a microfinance banking licence in Nigeria, aimed at strengthening its operations and promoting financial inclusion.

The company reiterated that any future funding or listing plans would be guided by long-term value creation, strong governance, and adherence to global best practices.