Afrigather Flutterwave’s chief working officer, Bode Abifarin, has left Africa’s largest startup after six years of main the startup’s operations, within the newest high-profile exit from the funds big.
“It’s been a cocktail of highs, lows, victories and failures, hitting milestones, dropping milestones, all wrapped up in a narrative of resilience with the final word satisfaction of fixing cost issues for our prospects,” Abifarin wrote in a LinkedIn post on Tuesday.
Her resignation comes after different high-profile staff like Oneal Bhambani, the previous chief monetary officer, and Ted Oladele, a former vice chairman of design and innovation, left the corporate in latest months. Jimmy Ku, the corporate’s head of progress for the USA, additionally left the corporate in February.
Abifarin joined Flutterwave after 15 years at KPMG Nigeria, the place she was an affiliate director. With nearly 20 years of expertise, she constructed Flutterwave’s operations, together with inside processes, because it attained unicorn standing and helped regular the ship by means of a sequence of allegations towards its management in 2022.
“Since our inception, Bode has been the heartbeat of our operations, infusing her ardour and dedication into each side at Flutterwave,” Gbenga Agboola, Flutterwave’s CEO, stated in a LinkedIn post. She is going to “proceed to nurture new companies” and “give attention to constructing, instructing and training,” after leaving Flutterwave.
Abifarin’s exit comes because the cost big touts itself as an IPO candidate with a rumoured itemizing that has been within the works since 2022.
Though the latest exit of high-profile staff raises questions on these inventory itemizing plans, the startup has made progress on different fronts. After a tumultuous fraud allegation by Kenyan authorities, Flutterwave has been cleared of financial impropriety in the East African nation, which threatened to dent its repute. The startup additionally hired five new executives throughout its threat, compliance, and growth departments one month after Bhambani left the corporate.
Two weeks in the past, Flutterwave additionally added a new board member, Nigerian architect Olajumoke Adenowo, as a part of its efforts to drive its worldwide growth technique. The startup can be reassessing its product technique. Final yr, it relaunched its worldwide remittances product, Ship App, and launched different choices to assist native companies swap worldwide currencies. Final week, the corporate shut down the struggling Barter, a digital card and worldwide funds service it launched in 2017, because it trimmed its give attention to the extra profitable Ship App, which has fueled progress.
