Flutterwave, the most valuable startup in Africa, has partnered with IndusInd, India’s sixth-largest bank by assets, to offer its remittance product in India.
The collaboration will enable the fifth-largest economy in the world to use Flutterwave’s remittance service, Send App, to send money to the continent of Africa.
“The Indian expansion for Flutterwave will be the first African company to do this at scale where remittances from India to Africa become seamless and quick,” the co-founder and CEO of Flutterwave, Olugbenga Agboola, told Bloomberg.
The expansion into India is coming weeks after Agboola declared that the startup would move forward with its IPO aspirations.
This new partnership would give the Lagos-based company’s intention to go public a boost. Since June, the startup has added a number of new foreign partners and expanded its market base in preparation for its IPO.
In order to allow Africans to pay their airline costs in local currencies, the fintech company announced an interface with the Financial Gateway of the International Air Transport Association in July.
Flutterwave established Kigali as its settlement hub in East Africa in June after obtaining a payment services licence in Egypt.
