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Flutterwave Secures $250m Series D Funds

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Global fintech company Flutterwave has raised $250 million in series D funding, valuing the company at over $3 billion, to become one of the highest-valued African start-ups.

The new funds will drive Flutterwave’s expansion plan to accelerate customer acquisition in existing markets, grow through mergers and acquisitions, and develop complementary products.

Flutterwave provides a payment service for merchants, payment service providers, and Pan-African banks.

Flutterwave has also partnered with global and Pan-African technology and telecommunication companies such as PayPal, MTN and Airtel Africa to drive financial inclusion on the continent.

Announcing the new funding, Flutterwave says its latest backers include globally recognised investors led by B Capital Group, with participation from Alta Park Capital, Whale Rock Capital and Lux Capital, among others.

Several existing investors that participated in previous rounds also followed this round, including Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital and Salesforce Ventures.

“Our story is that of resilience and hard work. Our growth so far is due to the support of our customers, our partners, the banks, the public, the regulators, and importantly our people,” says Olugbenga ‘GB’ Agboola, founder and CEO of Flutterwave.

“We are delighted that investors believe in us and our story and are committing their resources to this belief.

“This latest funding demonstrates the conviction of some of the world’s leading investors in our business model, team and the Africa technology market. It gives Flutterwave the much-needed support to deliver on our plans to provide the best experience for our merchants and customers around the world.”

For the investors, Flutterwave has become Africa’s fastest-growing unicorn and deserves its backing.

“At B Capital, we seek to back generational companies with broad platform potential. Flutterwave has a unique opportunity to accomplish this as the dominant payments infrastructure provider across Africa,” says Matt Levinson, partner at B Capital.

“In addition to their emergence as the leading enterprise payments processor for the continent, Flutterwave is innovating at breakneck speed with novel fintech solutions for large corporates, SMEs and consumers.

“I’ve had the pleasure of backing this world-class team since 2017 and couldn’t be more thrilled that B Capital is leading their Series D. Flutterwave may ultimately build one of the most consequential fintech businesses in the world, enabling hundreds of thousands of merchants to transact online and connect Africa to the global economy.”

David Glynn, managing partner of Glynn Capital, comments: “We believe the digitisation of payments globally is one of the largest and most important trends in technology.

“Having been investors in Flutterwave since 2017, we have had a front row seat in seeing Flutterwave establish itself as a leading payments company in Africa, as it drives adoption of seamless digital payments experiences for merchants and consumers alike. We look forward to supporting the company as it addresses its significant growth opportunity in the years ahead.”


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Toll Collection on Lagos-Calabar Highway Begins December

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Senator David Umahi, the Minister of Works, has announced that a section of the Lagos-Calabar Coastal Highway will be tolled starting in December.

Umahi disclosed this during an interview for a forthcoming State House documentary marking the second anniversary of President Bola Tinubu’s administration.

He said: “By December, we will toll Section 1 of the Lagos-Calabar coastal highway. We project a 10-year return on investment.

“The road has solar-powered lighting and CCTV infrastructure, and offers carbon credit advantages.

“It is more than a road; it is an economic corridor and a catalyst for regional growth.”

According to the minister, 30 kilometres of Section 1 have already been completed, with an additional 10 kilometres in Section 2 nearing delivery. Both segments feature six-lane concrete-paved carriageways, designed to meet modern standards for safety and durability.

Umahi further revealed that construction had commenced on Sections 3 and 3B of the highway, spanning a total of 65 kilometres, covering 38 kilometres in Cross River State and 27 kilometres in Akwa Ibom.

He described the positive response from local communities as a clear indication of the project’s wide-reaching socioeconomic benefits.

“Just days ago, we flagged off Sections 3 and 3B—65 kilometres in total, covering 38 kilometres in Cross River State and 27 kilometres in Akwa Ibom. The host communities’ excitement speaks to these projects’ transformative impact,” he said.

Umahi also highlighted the administration’s renewed focus on the Sokoto-Badagry superhighway, which he noted was part of a broader vision dating back to colonial-era trade plans.

“The Trans-Saharan trade route dates back to colonial-era planning. President Tinubu is now bringing these long-abandoned visions to life,” the minister explained.


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Kaspersky Uncovers Dero Crypto Miner Spreading via Exposed Container Environments

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Kaspersky Security Services experts have identified a sophisticated cyberattack campaign targeting containerized environments to deploy a miner for the Dero cryptocurrency.

The attackers abuse exposed Docker APIs — parts of Docker, an open-source container development platform. In 2025, there are a significant number of Docker API default ports that are insecurely published, accounting for almost 500 occurrences worldwide on average each month.

In the discovered campaign, cybercriminals inject two types of malwares into the compromised systems: one is the miner itself and the other is a propagation malware that can spread the campaign to other insecure container networks.

Kaspersky experts discovered this malicious campaign as part of a compromise assessment project. According to expert estimates, any organisation that operates containerized infrastructure — while exposing Docker APIs without robust security controls — can be a potential target. These may include technology companies, software development firms, hosting providers, cloud service providers and more enterprises.

According to Shodan, in 2025, there are 485 published Docker API default ports¹ worldwide each month on average. This figure illustrates the campaign’s potential attack surface by tallying the “entry points” — or insecurely exposed ports that attackers might target.

Once attackers identify an insecurely published Docker API, they either compromise existing containers or create new malicious ones based on a legitimate standard Ubuntu image. They then inject two malware types into the compromised containers: “nginx” and “cloud”.

The latter is a Dero cryptocurrency miner, while “nginx” is a malicious software that maintains persistence, ensures execution of the miner and scans for other exposed environments. This malware allows attackers to operate without traditional Command-and-Control (C2) servers; instead, each infected container independently scans the Internet and can spread the miner to new targets.

“The campaign has the potential for exponential growth of infections, with each compromised container acting as a new source of attack, if security measures are not immediately put in place in the potentially targeted networks,” explains Amged Wageh, an incident response and a compromise assessment expert at Kaspersky Security Services.

“Сontainers are foundational to software development, deployment, and scalability. Their widespread use across cloud-native environments, DevOps, and microservices architectures makes them an attractive target for cyber attackers. This growing reliance demands organisations adopt a 360-degree approach to security — combining robust security solutions with proactive threat hunting and regular compromise assessments”.

The attackers embedded the names “nginx” and “cloud” directly in the binary — an inflexible executable file composed of instructions and data for the processor, not for humans. This is a classic masquerading tactic that lets the payload pose as a legitimate tool, trying to deceive both analysts and automated defenses.


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Manager, Others Arraigned for Allegedly Hacking into Premium Trust Bank’s Server

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Economic and Financial Crimes Commission (EFCC), on Tuesday, charged five defendants before a Federal High Court in Lagos for allegedly hacking into the server of Premium Trust Bank.

Manager, Others Arraigned for Allegedly Hacking into Premium Trust Bank’s Server

The defendants are listed as the bank’s e-payment service manager, Matthew Adeniyi; Kehinde Odeyemi, a nursing mother; Samson Latshin, Bolaji Omotosho and Sunday Okunnola.

They were charged before Justice Alexander Owoeye, on a six-count charge bordering on conspiracy, cybercrime and unlawful access to the bank’s database.

They, however, pleaded not guilty to the charge.

Mrs. Zeenat Atiku, prosecutor, alleged that they committed the offence between April and May this year, in collaboration with three others, now at large.

Those still at large are Isa Ismaila, Victor Joshua, also known as ‘Oracle’ as well as one other, simply identified as Humble.

According to the charge, the first defendant unlawfully disclosed sensitive credentials, including the bank’s server IP and domain details, to these parties.

She said this enabled an unauthorised access to the bank’s database and the consequent data breach allegedly resulted in financial gains of $10,000.

The prosecutor also alleged that the defendants attempted to intercept the bank’s network and procured a Hewlett-Packard ProBook 440 G9 laptop (serial No. SN#5CD2473N6G) configured to bypass the bank’s security systems.

The anti-graft agency said the alleged offences contravened the provisions of sections 12(1)(b), 27, 28(1)(b)(c) and 28(3) of the Cybercrimes (Prohibition Act, 2015 (as amended in 2024).

Following their pleas, the prosecutor, requested for a trial date and sought an order to remand the defendants in custody.

Meanwhile, the court declined an oral bail by the defence counsel and directed that a formal bail application be filed.

He adjourned the case until June 30, for trial and ordered that the defendants be remanded at the Nigerian correctional centre, pending bail.

The court, however, added that the defence may apply for an earlier trial date, upon filing their bail applications.

 


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