As Flutterwave moves to capture a share of Egypt’s cross-border remittances, the payment company hopes expanding and deepening its market coverage will also be a boost for its IPO appeal. It already facilitates payment collection for an array of merchants in Egypt including Uber, but the company hopes it can tap into Egypt’s massive remittance market to deepen its market reach in the north African country. Flutterwave CEO Olugbenga Agboola confirmed to TechCabal that his company is still planning its Nasdaq listing. As Flutterwave prepares to IPO, Agboola says his company will not seek to raise additional capital at this time. Eyes on Egypt’s cross-border payment market“There is a massive remittance corridor between Europe, the Middle East and Egypt,” Agboola pointed out.

Source: The North Africa Journal June 24, 2023 05:30 UTC