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$40-million in Flutterwave’s accounts frozen in Kenya

$40-million in Flutterwave’s accounts frozen in Kenya

A court in Kenya has frozen over $40 million in accounts belonging to Africa-focused payments giant Flutterwave under the country's anti-money laundering laws, court documents showed. Founded in 2016 in Nigeria, the San Francisco-headquartered firm specialises in individual and consumer transfers, one of several fintech firms facilitating and capitalising on Africa's booming payments market. Earlier this year, the firm raised $250 million, valuing the startup at more than $3 billion. Kenya's Assets Recovery Agency sought and was granted a High Court order to freeze several accounts with three banks belonging to Kenyan-registered Flutterwave Payment Technology Ltd. Flutterwave confirmed to Reuters…
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