In his early 30s, Olugbenga "GB" Agboola founded the company that would become the leading payments platform in Africa and one of the continent's first to reach unicorn status (earning a valuation of more than $1 billion).
His journey from software engineer to fintech startup CEO makes for an inspiring tale, but not just for his accomplishments. As a philanthropist and unabashed supporter of Africa, Agboola has consistently used his success to support and provide opportunities for the less fortunate.
In fact, the premise is what his company is built on.
"I'm often asked why we are called Flutterwave," he said. "It stems from the butterfly effect, the idea that something small like getting coffee every morning can lead to a difference in a much bigger situation, like altering your career for good."
For those searching for a career to emulate, Olugbenga "GB" Agboola makes for an excellent model. The life of the founder of the company—recently ranked No. 1 on Fast Company's list of Most Innovative Companies in Europe, the Middle East, and Africa—is full of lessons for budding entrepreneurs and those who seek inspiration.
Lesson 1: Give Back in Ways That Pay
A lot of successful people pay lip service to the concept of charitable work; it's just good PR. But there's a difference between writing a big check and making a substantial difference in the life of another human being.
Agboola believes that in both the business and the personal spheres, people should seek to make the world better for others.
Flutterwave was born out of a desire to help enterprise companies do business in Africa. If big businesses could scale across the continent, they would bring jobs and opportunities for Africans. However, they were often stymied by complex financial rules and regulations that differed from one country to the next.
Agboola's platform changed all that. His company allows businesses and individuals to make and receive payments across national borders without the complicated steps that formerly required waiting several days for transactions to process.
However, while enterprise businesses may have been the first clients, their results alone were never how Agboola judged his company's impact.
"Our success is not just in the numbers, it's also in our impact," he said. "We are making things better for Africans here and abroad. From the small business owner who can now easily and reliably receive payments for her goods, to the daughter in the diaspora who can now send money to loved ones back home. Our infrastructure allows someone to book a flight from Lagos to Accra and order an Uber within the city, something you would not have even imagined just a few short years ago. For Africa and for Africans, we are providing the underpinning framework for any kind of payment."
Lesson 2: When You See a Problem, Find a Solution
Agboola's company aims to connect all of Africa. It's a goal that he doesn't define by clients alone. Stitching Africa together means making life better for the people who live on the continent.
Toward that end, he takes on projects beyond Flutterwave to improve the lives of his people.
"It's funny. I've never thought about social impact investing. I just think about it as stuff that needs to be done," Agboola said. "I have always thought that the issue of health care cannot be left for only the government. I feel that the private sector has a role to play to ensure that quality and affordable health care is available to all levels of society."
As a Nigerian, this issue has simmered in the back of Agboola's mind for decades. But for most of his life, he wasn't in a position to effect real change in his homeland.
"And I happen to meet two people who are also very passionate about that. One of them is a health professional and the other person is the founder of one of Nigeria's biggest banks. So, three of us come together and acquire a hospital and build a world-class health infrastructure. Let's not just talk about it, let's do something about it. And that was how we decided to build the hospital," he added.
"So that was how we decided. We started building about two years ago. We put our capital in, we started building, and now I'm very happy. We've launched two hospitals. And the good is to provide world-class health services for people in that area."
Lesson 3: Lift as You Climb
Now operating in more than 30 countries, Flutterwave's success has been massive. But Agboola hasn't kept the spoils for himself. Through its many programs, the company seeks to augment the abilities and opportunities of young Africans.
In July 2022, the e-payments platform introduced a 12-month Graduate Trainee Program to build the technical and soft skills of 200 young Nigerians. By working directly with engineers and other employees at Flutterwave, the students gain experience with modern high-tech business and learn the subtle art of contributing to a global organization.
For the next generation, Olugbenga Agboola's career offers lessons in pragmatism—solving real problems, building real infrastructure, and opening real doors for others.
