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Flutterwave pens 5-year Microsoft technology deal

By , Africa editor
Nigeria , 23 Jun 2023
Olugbenga Agboola, founder and CEO of Flutterwave.
Olugbenga Agboola, founder and CEO of Flutterwave.

Nigeria-founded Flutterwave has announced a five-year technology agreement with Microsoft, and the fintech is already building its next-generation platform on Microsoft Azure.

This agreement, the company says, is to support and secure Flutterwave payments infrastructure as it prepares to roll out new products.

Flutterwave says the backing of Microsoft will enable the two parties to prop up payments to-and-from Africa, enabling growth across the continent.

Flutterwave is a fintech that provides a payment infrastructure for global merchants and payment service providers across the continent.

The fintech has processed over 400 million transactions above $25 billion and serves over one million businesses, including customers like Uber, Airpeace, Bamboo, and Piggyvest.

Through the Microsoft engagement, Flutterwave says it will accelerate the growth of transactions processed on its platform for global clients like Uber, Netflix, and Microsoft.

Flutterwave products, Flutterwave for Business, Send by Flutterwave, Flutterwave Store, and Flutterwave for fintech platform, are also being developed and transitioned onto the Azure cloud platform.

In addition, Flutterwave uses Azure OpenAI Service to scale product offerings to merchants worldwide.

Olugbenga Agboola, Founder and CEO of Flutterwave, comments: “We manage high-volume payment processing, particularly during peak periods, the robustness, reliability, and scalability of Microsoft Azure become critical. Deepening our collaboration with Microsoft is a logical step forward for us.”

Flutterwave's chief technology officer, Gurbhej Dhillon, says the company has set a strong foundation for Flutterwave by working with Microsoft.

He adds: “Their platform provides us with significant developer leverage, which we harness in service of our clients. Looking to the future, we are excited about the possibilities of scaling with Azure OpenAI Service, which will enable us to serve even more merchants worldwide.”

For Microsoft, working with Flutterwave will take the company closer to achieving its mission in Africa of supporting digital transformation, says Mike Gaal, Microsoft Corporation general manager.

“We have proudly supported Flutterwave’s core operations with Microsoft Azure for many years. We are excited to further their growth and innovation through this expanded collaboration,” says Gaal.

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