Flutterwave Expands Money Transfer Capabilities with Licenses in 13 U.S. States

Flutterwave, one of Africa’s leading payments technology company, announced that it has secured money transfer licenses for 13 U.S. states, enhancing its ability to facilitate faster, more affordable, and secure cross-border transactions between the United States and Africa. The newly acquired licenses cover Arizona, Arkansas, Maryland, Michigan, Delaware, Georgia, Maine, Mississippi, Missouri, New Hampshire, Iowa, North Dakota, and South Dakota. Coupled with existing licenses and partnerships, Flutterwave can now serve customers in 29 U.S. states.

Money transfer licenses, issued by state regulators, authorize financial technology firms to engage in the transmission of money. Flutterwave’s expanded regulatory footprint allows it to offer services like the Send App, a user-friendly remittance app facilitating money transfers between the U.S. and Africa. Additionally, enterprises utilizing Flutterwave for global last-mile payouts benefit from these licenses.

Stephen Cheng, Executive Vice President, Global Expansion and Partnerships at Flutterwave, emphasized that obtaining these licenses showcases the company’s commitment to delivering services with safety and soundness, fostering trust among regulators, partners, and customers. The move aligns with Flutterwave’s dedication to servicing customer needs in multiple geographies, particularly those with a significant African diaspora.

Olugbenga Agboola, Founder and CEO at Flutterwave, expressed the company’s mission to simplify payments and connect Africa to the world. The acquisition of these licenses represents a significant step toward realizing this vision. Flutterwave aims to make the Send App accessible to the African diaspora in the U.S., facilitating seamless money transfers and bringing them closer to their roots.

Flutterwave remains committed to expanding its remittance services across the U.S., with ongoing efforts to enhance licensing coverage for all states, supporting the company’s vision of providing accessible financial solutions globally.