Flutterwave partners with IndusInd Bank to expand its remittance product into India

Flutterwave, Africa’s most valued startup, has expanded into India to provide its remittance product after partnering with IndusInd, the sixth largest financial institution in India by property. 

Flutterwave is increasing its remittance product, Send App, into India after partnering with IndusInd, an Indian financial institution with roughly 35 million prospects. The partnership will permit Flutterwave, which is current in 30 African nations, to ship cash from the fifth largest economic system on this planet to the African continent. 

“The Indian expansion for Flutterwave will be the first African company to do this at scale where remittances from India to Africa become seamless and quick,” Olugbenga Agboola, the co-founder and CEO of Flutterwave, instructed Bloomberg. Agboola is at present in India with Nigeria’s tech minister, Bosun Tijani, and President Bola Tinubu forward of the upcoming G20 summit. He added that the fintech will search for extra partners to enhance its presence in India. 

The fintech’s growth into India comes weeks after Agboola introduced that the startup would forge forward with its IPO plans. Since June, the startup has onboarded a number of new worldwide partners and widened its market base in anticipation of its IPO and this new partnership might function a lift to the Lagos-based startup’s plan to go public.

In June, Flutterwave acquired a fee providers license in Egypt and made Kigali its settlement hub in East Africa. In July, the fintech introduced an integration with the International Air Transport Association’s (IATA) Financial Gateway (IFG) to allow Africans to pay their airline charges of their native currencies. Despite a Kenyan court docket freezing its accounts in June, the fintech secured title approval for its remittance enterprise in August and is just a few steps nearer to buying a cash remittance license from the Central Bank of Kenya.