Microsoft has announced a five-year strategic technology partnership with Africa’s payment startup Flutterwave.
Through the new collaboration, Microsoft said Flutterwave will build its next-generation platform on Azure, with the goal of fast-tracking payment innovation in Africa and, in so doing, accelerating the growth of small businesses across the continent.
“To drive sustainable growth in Nigeria, small businesses need the ability to participate more actively in the local and even global marketplace. This begins with digital financial inclusion. If we want to build a more resilient country and ultimately a more prosperous continent, we must begin by giving these businesses the digital financial services they need, not just to survive, but to thrive,” says Ola Williams, Country Manager, Microsoft Nigeria.
As part of the collaboration, Flutterwave will also launch transactable solutions on Azure Marketplace, including its SMB finance-as-a-service offering, further extending its reach.
Transitioning away from its legacy infrastructure and onto Azure will allow Flutterwave to process high-volume payments at scale, ensuring a seamless and secure payment experience for its clients. Through Azure OpenAI Service, it also has the opportunity to scale its product offering to millions of merchants worldwide.
Commenting on the partnership, Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said: “In our journey at Flutterwave, we’ve always strived to touch lives by simplifying payments and connecting dreams to opportunities. Today, as we join hands with Microsoft, it feels like a family reunion of visionaries and go-getters. The excitement in our team is palpable because this partnership isn’t just about transactions – it’s about transformation. We’re honoured that Microsoft believes in our vision and trusts our capability. I am proud to say we’re not just dreaming of an inclusive digital Africa; we’re creating it.”
“Microsoft is committed to fast-tracking economic growth in Africa through the transformative power of technology – a key part of this involves making it possible for SMEs to acquire the digital financial tools and services they need to succeed,” says Lillian Barnard, President of Microsoft Africa. “We believe greater access to technology and innovation holds the key to building thriving local businesses that will create stronger economies to enable a brighter future for all.”
Flutterwave has been actively expanding its global presence by offering payment solutions for Africans seeking to make payments for products and services abroad. This year, the company expanded its remittance solution, Send App, to include Canada and the US, enabling money transfers from these countries to customers in Africa. Flutterwave also introduced Tuition, a product enabling African users to pay educational fees to institutions within Africa and overseas using local currencies.
The Africa’s payment startup also announced it will continue with its initial public offering (IPO) on the Nasdaq as part of its effort to access larger partners following significant progress in addressing allegations of financial impropriety in Kenya.