Yesterday, Flutterwave announced that it had completed the raising of its Series A Extended round. The closed round brought the startups' total amount of funding raised to date to at least $20 million.
However, in the same press release, Flutterwave announced that one of its co-founders and CEO, Iyinoluwa Aboyeji, was stepping down as CEO. The document indicated that Iyin was resigning to focus on pursuing family goals.
In the past 4 years, Iyin has co-founded two globally recognized companies - Andela and Flutterwave. Combined, both companies have raised at least $100 million in funding.
Following Flutterwave's official press release, Iyin has also released his resignation letter. Below is the exact transcript of it;
DEAR COMMUNITY,Today will be my last day at Flutterwave. After much thought and prayer I decided to step down from my role as CEO and focus on giving back to the startup community I owe so much of my success to.
Just a little over 2 years ago in May of 2016, myself and my co-founders at Flutterwave started on this unlikely and amazing journey to build payments technology and infrastructure that could connect Africa to the global economy and usher in a new wave of prosperity across Africa. We knew it would be an incredibly difficult and intriguing mission but we never imagined we would have the kind of impact we did so quickly.
Two years later the team at Flutterwave has built one of the world fastest growing payments business of all time from Africa, processing over 700 billion naira in payments across over 50 million transactions generating revenues in the billions of naira. Beyond its scale, its human impact has been profound, from connecting thousands of riders and drivers to daily enabling thousands of families in diaspora share prosperity with their love ones at home.
It has been an incredible privilege to lead the team through an era of incredible growth and impact. I wouldn't trade this experience for the world. This would have been impossible without the hard work and genius of the talented team of young people who are Flutterwave, the incredible support of our investors and advisors and the good will of so many who have been our biggest champions and advocates.
Over the next few months as I figure out what is next, I'll be catching up on sleep, spending time with my family and supporting and advising startups in our community (more to come on that) Everyone who knows me well knows what matters most to inc is my lifelong commitment to building the future of our country and our continent. As I take some time to rest and reflect on the incredible experiences I have had building two world class African success stories at Andela and Flutterwave - I am excited about the opportunities the future of our continent holds and I remain dedicated to supporting the next generation of entrepreneurs who will go on to build the next Andela's and Flutterwave's.
Thank you for your love and support on this journey.
Yours in trust,
IYINOLUWA "E" ABOYEJI