Flutterwave Inc. announced on Thursday it has agreed on a partnership with Ethiopian digital money and e-commerce platform Amole to facilitate mobile payments.
According to Flutterwave, the agreement will allow more than eight million Ethiopian diasporas to send money home through local tech firm Amole. Global users will be able to send money using Flutterwave directly into an Amole digital wallet, a bank account, or to a cash pickup location.
Speaking on the partnership, Flutterwave Founder & Chief Executive Officer Olugbenga ‘GB’ Agboola, said: “We are delighted to be collaborating with Amole to enable digital remittances and cash pickup into Ethiopia.
This is another significant milestone for payments in Africa as we work together to bridge the financial inclusion gap in the country and across the continent.
Our collaboration will ensure that Ethiopian businesses are getting paid from all over the world, opening massive opportunities for business growth, a goal we are passionate about. This is just the beginning, and we hope to deepen the discussions around our partnership to the benefits of Africans, everywhere.”
Flutterwave said this year its valuation passed $1 billion after raising funds from investors including billionaire Chase Coleman’s Tiger Global Management LLC, giving the firm so-called unicorn status. In March, it unveiled a payments partnership with Paypal and said it was considering a New York listing.
Ethiopia’s Dashen Bank and payments platform Moneta Technologies created Amole in 2018. Last month, the company announced a payments partnership with Visa.
Asfaw Alemu, CEO of Dashen Bank, said: “We are happy to partner with Flutterwave in delivering crucial forex that will support both our customers and Ethiopia.
This partnership will play an important role in delivering even more value to our diaspora community, linking them to their country with more opportunities for global eCommerce in the near future.”
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