Iyin Aboyeji has stepped down as the CEO of Flutterwave, Inc, two years after leading the award-winning payments technology company.
In August 2018, Aboyeji left Andela, a software developers’ company he co-founded to join Flutterwave in a move to capture payments solution across Africa.
Flutterwave is an end-to-end payments platform that covers all the bases in payments processing.
In a farewell message, Iyin Aboyeji thanked the Flutterwave board and team. “It’s been amazing working with the Flutterwave team to build another great African company and I’m excited for the future under its new leadership.”
“Over the next few months as I figure out what is next, I’ll be catching up to sleep, spending time with my family an supporting and advising startups in our community,” Aboyeji said in a note posted on his social media account on Monday, October 15, 2018.
He said he decided to step down to give back to the startup community that contributed to his success, though he didn’t state much about the community.
How Iyinoluwa Aboyeji started?
Business Insider SSA recalls that Aboyeji at 19 started Bookneto.com in 2011 which was acquired by the Canadian Innovation Center in 2013.
Later in the year, alongside some friends, he founded Fora, a distance learning platform for African universities.
Co-Founder, Olugbenga Agboola, steps in as CEO
The company in a release over the weekend said Aboyeji stepped down to pursue family goals and that Flutterwave Co-Founder, Olugbenga Agboola, will replace Iyin Aboyeji as CEO.
Olugbenga Agboola is a Financial Technology Engineer, with core financial services technology experiences with Paypal, Google, GTBank, Access bank, Standard /Stanbic IBTC Bank.
Olugbenga Agboola, Flutterwave CEO, “On behalf of the entire Flutterwave team we wish Iyin luck in his future endeavours. Moving forward; the entire Flutterwave team and I are excited for Flutterwave’s future and look forward to growing the company.”
Flutterwave completes Series A Extension round of financing
In the similar development, the company announced that it has completed its Series A Extension round of financing.
The latest round of financing includes investments from Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures, and Raba Capital, among others.
Flutterwave has now raised over $20 million to date and its largest investors include Green Visor Capital and Greycroft Partners.
As part of the financing, current Green Visor Capital Chairman & General Partner and former Chairman & CEO of Visa, Joe Saunders, joined the Flutterwave Board of Directors.
Headquartered in San Francisco, Flutterwave is building modern payments technology and infrastructure for Africa to enable people and businesses to connect with the global economy.
The company currently have operations in Ghana, Kenya, Nigeria, South Africa and finalised it expansion into Uganda two months ago.