At Semafor’s World Economy Summit in Washington DC, Flutterwave’s CEO Olugbenga ‘GB’ Agboola stated that the company is putting things in place to be IPO Ready.
In recent months, the company has made changes to its corporate team as part of moves aimed at preparing for an initial public offering.
What They’re Saying
“GB” described Flutterwave’s hopes for a public offering as part of a broader future agenda.
“Right now our goal is to be IPO-ready, ensuring we have the right corporate governance in place, making sure we are operating well,” he said.
“We want to be a long-term company in Africa, for Africa – and so the goal is building the right infrastructure to be here for the next ten-plus years.”
Zoom In
Flutterwave’s path to being IPO-ready includes some of its recent hires, including a new board chair, two independent directors, and experienced executives to fill roles needed to “translate tech speak” for regulators, Agboola said.
Between The Lines
However, the company has also faced some doubts on its IPO journey. Flutterwave has seen some company exits from high-profile executives including an ex-American Express executive who was Flutterwave’s chief finance officer and its chief operating officer who had been in her role for six years.
The Big Picture
Flutterwave has currently been in operation since 2016 when it was founded in Lagos. The company is currently the biggest player in Africa after raising $250 million in 2022 which saw its valuation grow to $3 billion.
Source: Semafor
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