(Agence Ecofin) – The roughly $3 billion fintech can now offer its funds transfer products in Asia’s second-largest economy, thanks to a partnership agreement with a local financial institution.

Nigerian payments specialist Flutterwave has expanded its service offering to India through a partnership agreement with local financial institution, IndusInd Bank, reports BloombergThis Friday, September 8, citing a fintech executive.

“ The partnership agreement will enable Flutterwave to expand its cross-border remittance product to Asia’s second-largest economy “, said Olugbenga Agboola (pictured), co-founder and CEO of unicorn, who was part of a delegation of business leaders accompanying Nigerian President Bola Tinubu during his visit to New Delhi.

“ Flutterwave is the first African payments company to expand to India on a large scale. This will make sending money from India to Africa transparent and fast “, he added.

Mr Agboola did not rule out the possibility of new partnerships with other Indian financial institutions.

“ We are a partnership driven organization. So if we see more banking partners to work with in India, we will definitely join them “, he emphasized.

IndusInd Bank has about 35 million customers across the country, including individuals, large corporates and government agencies, according to data on its website.

Founded in 2016 by Olugbenga Agboola and Iyinoluwa Aboyeji from Nigeria, Flutterwave is now present in around thirty African countries. The Lagos and San Francisco-based startup is valued at around $3 billion.

Also read:

03/16/2023 – Nigeria: Flutterwave obtains e-money issuing and funds transfer license in Rwanda

01/13/2023 – Nigerian payments company Flutterwave interested in British fintech Railsr

09/09/2022 – Nigerian startups Moove and Flutterwave are on the verge of taking African fintech to an international dimension

03/16/2021 – Flutterwave announces major partnership with Paypal for African e-merchants