Flutterwave’s Chief Operating Officer (COO), Bode Abifarin, departs Africa’s largest startup after leading its operations for six years, marking another significant departure from the payments giant, TechCabal reported
In a LinkedIn post on Tuesday, Ms Abifarin reflected on her tenure, describing it as a mix of highs and lows, victories and failures, and ultimately, a story of resilience in solving payment challenges for customers.
“It’s been a cocktail of highs, lows, victories and failures, hitting milestones, losing milestones, all wrapped up in a story of resilience with the ultimate satisfaction of solving payment problems for our customers,” she wrote.
Ms Abifarin’s resignation follows the departure of other key figures in recent months, including former Chief Financial Officer Oneal Bhambani, former Vice President of Design and Innovation Ted Oladele, and Jimmy Ku, the former Head of Growth for the United States, who left in February.
After 15 years at KPMG Nigeria, where she served as an associate director, Ms Abifarin joined Flutterwave and played a pivotal role in shaping its operations and internal processes, guiding it to unicorn status and navigating challenges to its leadership in 2022.
Flutterwave’s Chief Executive Officer (CEO), Gbenga Agboola, praised Ms Abifarin’s contribution, stating that she had been the driving force behind the company’s operations since its inception.
He highlighted her future focus on nurturing new businesses and contributing to education initiatives after leaving Flutterwave.
Reports state thst Ms Abifarin’s departure coincides with Flutterwave’s positioning as a potential IPO (Initial Public Offering) candidate, with rumors of a listing circulating since 2022. While the exits of key personnel may raise questions about these plans, the company has made strides elsewhere.
Following fraud allegations in Kenya, the fintech received clearance of financial impropriety, averting potential damage to its reputation. The company also bolstered its leadership team, hiring five new executives across risk, compliance, and expansion departments after Bhambani’s departure.
“In its efforts to drive international expansion, Flutterwave appointed Nigerian architect Olajumoke Adenowo as a new board member. Additionally, the company is reassessing its product strategy, with recent moves including the relaunch of its international remittances product, Send App, and the closure of Barter, a struggling virtual card and international payments service launched in 2017, to focus on the more successful Send App.”