The investment will boost CinetPay’s sales and marketing efforts across nine markets in West and Central Africa. Since its 2016 launch in Côte d’Ivoire, CinetPay has processed over 30 million transactions for 350 active merchants in nine countries, including Côte d’Ivoire, Senegal, Cameroon, Mali, Togo, Burkina Faso, Benin and Guinea.
CinetPay’s platform provides a single interface for businesses to process over 130 different payment operators, from mobile money to credit and debit cards and e-wallets, eliminating the need for merchants to spend months integrating with different systems in order to manage sales and revenues. The founder and CEO at Flutterwave, Olugbenga Agboola said: “having collaborated with the Cinetpay team for a number of years now, our shared vision to simplify payments on the continent further strengthens our commitments to working towards creating endless possibilities and experiences for all our customers.”