This year, two words have guided every meeting, milestone, and moment at Flutterwave: profitability and sustainability.
We’re not chasing vanity metrics. We’re building a company that outlasts the hype, that scales with discipline, and that puts African innovation at the center of the global economic map. Our half-year 2025 review was proof that we’re executing on a long-term plan.
We secured 20 new Money Transmitter Licenses (MTLs) in the U.S., giving us 34 in total and allowing us to operate independently in key states. We unlocked new approvals in Ghana, Cameroon, and Senegal, deepened our reach in Zambia, and strengthened our regulatory standing across the continent. Because to grow right, you must first earn the right to grow.
We didn’t wait for the world to pay attention. We built. And then the world did pay attention with our second consecutive inclusion in the TIME100 Most Influential Companies list. But for us, it’s a reminder of what’s possible when you build with purpose and stay committed to the mission: powering payments for Africa and connecting the continent to the world.
Local First, Global Always
We know Africa doesn’t look like anywhere else, so we don’t build like anyone else. Where cards dominate in many global markets, alternative payment methods (APMs) like mobile money and bank transfers are often top of mind for customers here. That awareness and cultural acceptance is everything. It’s what powers real adoption.
That’s why we launched Pay with Bank Transfer in Ghana. In just one quarter, it processed 26% more transactions than other APMs, driven largely by large corporations and enterprises. Ghana’s overall transaction value skyrocketed in H1 2025 by 47x compared to H1 2024. This surge confirmed that local context leads to local scale.
Pay with Bank Transfer, as a channel, has proven its strength. Between H1 2024 and H1 2025, total processed value (TPV) jumped nearly 2x (198.08%), showing the enduring trust users place in Flutterwave’s secure rails.
And with Send App by Flutterwave, we’re making it easier for people to move money home. It’s now live in Ghana, Egypt, and across new corridors in the U.S. and EU. From Berlin to Ibadan, from New York to Kumasi, Send App is making international money movement feel local, fast, and reliable. Every corridor we unlock, every license we earn, every product we improve contributes to one goal: building strong rails for a stronger Africa.
The Future’s Not Far. It’s Already Here.
We didn’t pause on growth. In H1, we welcomed large-scale enterprise merchants from around the world, and especially from East Asia. This partnership empowers Nigerian businesses to make local payments to suppliers across East Asia, with Flutterwave handling the collections end-to-end. The partnership is already delivering results: our East Asia merchant volume has surged, with processed value nearing $1 billion. It’s a clear testament that global scale starts with trusted infrastructure – something Flutterwave continues to provide for enterprise merchants looking to do business in Africa from anywhere in the world. We have only just announced Norafirst and Skyee, a member of Lakala Group, as new merchants from the East Asian market.
While we continue to focus on helping enterprise businesses expand into Africa, we have also been able to help our top merchants expand outside Africa. In 2024, we expanded into Turkey and Kuwait to support a major ride-hailing giant. In H1 2025, we ramped up activities in these markets with transactions in Turkey growing significantly while those in Kuwait showed solid momentum with the total processed volume (TPV) up by 112.11% compared to H1 2024. This reflects growing enterprise trust in our network and ability to deliver across borders and continents.
We also launched Next Gen APIs, now in beta. These will make it easier for businesses to scale across markets, offering more speed, more control, and more options. That includes scheduled payouts, mobile money support, wallet transfers, improved documentation, and a fully independent sandbox for developers. We want to empower today’s and tomorrow’s developers to do more with less. Our Next Gen APIs will be commercially available in Q3.
Partnerships that Multiply Possibility
Great impact isn’t built in silos. It’s built with partners who share the vision.
In Nigeria, we partnered with FIRS, SMEDAN, and NITDA to formalize payments, support MSMEs, and accelerate the digital economy. Across 11 African countries, our partnership with Chpter, a Kenyan social commerce platform, is helping sellers collect payments directly via Instagram and WhatsApp. It’s turning conversations into conversions.
In Europe, our work with Global Remit is helping us scale Send App confidently across Ireland, France, Germany, and Italy. Globally, our early design partnership with the Circle Payment Network is slated to give our enterprise merchants faster, more affordable, and more reliable settlement options. Speed and cost-efficiency can go hand in hand.
People First, Always
At Flutterwave, we’re building talent, community, and confidence in the future alongside the future of technology in Africa.
From Flutterwave Fintech Evenings to our Accelerate Workshop, we created spaces where Africa’s builders can learn, grow, and thrive. They were moments of shared belief in what’s possible and what we’re all here to build together.
And we practiced what we preached. We promoted 160 employees, made away with titles, and aligned bonuses to performance. We partnered with Clarity Bootcamp to build better leaders from within. Because at Flutterwave, what you do matters more than what you’re called.
Profitability Is No Longer a Goal. It’s in Sight.
In the first half of 2025, we’ve made strong progress through smart cost management and improved efficiency. By June 2025, our monthly margin had doubled compared to our 2024 average, a clear sign that our focus on sustainable growth is delivering results. We doubled down on products with strong unit economics, streamlined operations across key markets, and said no to payment volume that didn’t serve our long-term goals. This discipline is being applied to every layer of our business, and the results are evident with the enterprise payments, F4B Enterprise, which recorded an almost 20% year-on-year increase in TPV in H1 2025.
We completed our first-ever group audit and consolidated financials. It means we’ve successfully undergone an independent, comprehensive review of our financials across all our entities, held to international standards. This is a strong signal of our maturity, transparency, and readiness to operate at a truly global scale. For our partners, regulators, and customers, it reinforces one thing: we’re building a business that’s fundamentally sound.
Looking Ahead
The second half of 2025 is already underway, and we’re not slowing down. Every product update, every new corridor, every line of code is moving us closer to a single truth: Africa doesn’t need a shortcut. It needs a strong foundation. And we’re here to build it. To every founder, regulator, partner, developer, waver, and dreamer: Thank you for building with us. The world is watching. And we’re only just getting started.