For the second time in less than five years, Iyinoluwa Aboyeji—one of the most prominent names in Nigeria’s tech ecosystem—is stepping down from a successful company he co-founded.
Aboyeji, a 2016 Quartz Africa Innovator, has left his role as chief executive of Flutterwave, a little over two years after he co-founded the payments solutions startup. Flutterwave, one of the well-regarded startups of Africa’s fintech space, has quickly become a leading player in online payments processing 60 million transactions worth over $2 billion. It lists global companies including Uber and Booking.com among its clients. Olugbenga Agboola, a co-founder, will replace Aboyeji as chief executive.
Aboyeji’s departure comes just as Flutterwave announced an extension of its Series A round which takes the total funding it’s raised beyond the $20 million mark. The extension comes a year after the company’s $10 million Series A round which was led by leading Silicon Valley venture capital funds Greycroft and Green Visor Capital.