After closing a $35m round, Flutterwave uses Digify for information rights management
San Francisco and Lagos-based fintech startup Flutterwave started using Digify for fundraising but soon came to rely on it for information rights management across the organization.
About Flutterwave
Flutterwave is a San Francisco and Lagos-based fintech startup that builds payment solutions for businesses and banks in Africa and the rest of the world. One of the fastest growing payments companies in the world, Flutterwave has processed over $8 billion in payments from inception across over 110 million transactions globally.
In January 2020, Flutterwave raised $35 million in Series B funding led by Greycroft and eVentures, bringing their total investment to date to just under $60 million.
By March 2021, the company raised $170 million in Series C funding at a post-money valuation of more than $1 billion. In total Flutterwave has now raised $225 million.
The Problem
Need to control access to different types of documents
Flutterwave needed a solution that could let them control access to documents of different types and formats sent to investors during fundraising. The previous solution they were using did not allow them to upload some document formats like excel and script data documents while also preventing recipients from having only view access to the files. They needed a better solution that would let them allow them more control over sensitive files.
The Solution
A robust solution to manage information across the company
In Digify, Flutterwave found a solution that would let them upload different types and formats of documents during fundraising and restrict access to information sent to investors. They could control access to the documents by allowing downloads or setting them to view-only as required. Beyond fundraising, Flutterwave also began using Digify for sending documentation across the organization and for internal information rights management.
Why Digify?
Variety of document types and formats
Digify allowed Flutterwave to send different document types, from excel to pdf and control access to them. They could also make changes to documents and extend the expiry of the data rooms if they needed more time.
Ease of use and quick onboarding of users
Flutterwave found it easy to switch between the document security and data room features, and their team members were able to access files and data rooms when added quickly without any steep learning curve.
One tool for information management
Digify has become the go-to tool for information management for Flutterwave. Aside from fundraising, they are using it for audits, internal communication and corporate governance.
The Outcome
Easy information management for fundraising and corporate governance
In late 2019, Flutterwave used Digify during their Series B fundraising process. The platform helped them control the usage of documents and allowed them to send specific information with investors with their own specific rights.
Flutterwave closed the round by raising $35 million and continues to use it today for other aspects of information management including audits, corporate governance and corporate development. Digify has become a natural extension of their everyday workplace routines.
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