GetBarter which is available on Android and iOS is aimed at easing of payments for personal and small businesses within countries and across Africa.
With Barter, one will be able to add their bank account to the app’s dashboard and manage funds in their local currency, get detailed reports that show your spending patterns and insights.
In addition, the product will allow one to link their mobile money wallets to create a virtual Visa card.
This is Flutterwave’s second major product after Rave, their maiden payment platform which is currently being used by major companies in Africa including Uber and Booking.com.
“The target market is pretty much everyone who has a payment need in Africa. That includes the entire customer base of M-Pesa, the entire bank customer base in Nigeria, mobile money and bank customers in Ghana—pretty much the entire continent,” Flutterwave CEO Olugbenga Agboola told TechCrunch.
Flutterwave’s focus is targeting mobile money and bank clients in Kenya, Ghana, and South Africa, with plans to expand across the continent and reach those without access to the traditional financial services through GetBarter.
Founded in 2016, Flutterwave has to date processed over 100 million transactions worth US$2.6 billion and has partnered with over 50 banks across Africa.
In 2018, Flutterwave secured over US$10 million in Series A funding led by Mastercard, CRE Ventures, FinTech Collective, 4DX Ventures, Raba Capital bring their total funding to US$20 million.
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