Flutterwave relaunches Send App in US with 20 additional licences

Flutterwave, one of Africa’s leading payments technology companies, has relaunched its flagship remittance platform, the Send App, across multiple US states following the acquisition of 20 additional Money Transmitter Licences (MTLs).

This brings the company’s total direct licences to 34, up from 14 in 2023, enabling Flutterwave to operate independently without intermediaries in a growing number of US states and territories.

The expanded licencing allows users in states such as Alaska, Arizona, Arkansas, Delaware, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Washington, West Virginia, Wisconsin, and Wyoming to send money directly to Nigeria, Ghana, and Egypt. This opens new remittance corridors, strengthening financial connections between the US and key African markets.

Flutterwave has also streamlined the Send App’s onboarding process with a quick ID verification system, reducing barriers for new users.

Additional enhancements include optimised support for US-issued Visa and Discover cards, bolstered security measures to ensure compliance and protect transactions, and improved in-app flows for a more seamless user experience. These updates reflect Flutterwave’s commitment to delivering a secure, efficient, and regulatory-compliant platform for its US-based customers.

Olugbenga Agboola, Flutterwave’s Founder and CEO, emphasised the significance of the relaunch in a statement seen by Technext:

“By expanding our reach and enhancing our services, we are empowering millions of Africans in the US to maintain strong financial ties with their home countries, support their families, and contribute to economic development across the continent. We remain dedicated to bridging Africa with the global economy.”

The relaunch builds on Flutterwave’s recent milestones. Earlier this year, the company integrated its Swap feature into the Send App, enabling seamless foreign exchange transactions.

Flutterwave also secured approval from the Bank of Ghana to facilitate inward remittances, further strengthening its services in the region. The company also recently launched licenced digital payment services in Cameroon, expanding its footprint in Africa.

What this means for Flutterwave

The relaunch of the Send App with expanded US licences marks a pivotal step in Flutterwave’s global ambitions. The company strengthens its position as a leading player in the cross-border remittance market by securing 34 direct MTLs, particularly for African diaspora communities in the US.

The ability to operate independently in multiple states enhances operational efficiency, reduces costs associated with intermediaries, and ensures compliance with stringent US regulations, which is critical for building trust with users and regulators alike.

The addition of new remittance corridors to Nigeria, Ghana, and Egypt taps into high-demand markets, where remittances play a significant role in economic development. According to the World Bank, Sub-Saharan Africa received $54 billion in remittances in 20243; Nigeria and Ghana were among the top recipients.

Flutterwave is well-positioned to capture a larger share of this market by facilitating faster, more secure, and user-friendly transfers.

The integration of Swap and the approval for inward remittances in Ghana further diversifies Flutterwave’s offerings, creating a more comprehensive financial ecosystem. However, the company faces competition from global players like Wise and PayPal, as well as regional fintech platforms.