Olugbenga Agboola

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Olugbenga Agboola
Olugbenga Agboola.jpeg.jpg
Olugbenga Agboola. Image sourced from The Spark - “Olugbenga Agboola - Funding For Fintech.”
Alma materUniversity of Waterloo
Loyola Jesuit College
OccupationEntrepreneur, CEO and Co-Founder of Flutterwave
Known forbeing the Co-founder of Flutterwave

Editor: Charissa Cassels

Olugbenga Agboola was born in Lagos, Nigeria.[1] Agboola is the Co-Founder and CEO of San Francisco and Lagos-based financial services company, Flutterwave. Flutterwave is a digital payments infrastructure that caters to banks and businesses in order to ensure secure payments. He was initially the Chief Technology Officer of Flutterwave.[2]

Flutterwave was founded in 2016 by Co-Founders, Iyinoluwa Aboyeji and Agboola, as well as a team of African payments, technology and banking veterans from Standard Bank, Google Wallet, Andela and PayPal. After Aboyeji stepped down as CEO[3] of Flutterwave, in pursuit of focusing on his family goals and to give back to the start-up community that contributed to his success,[4] Agboola became the company’s CEO on 14 October 2018.[5]

Additionally, Agboola is an entrepreneur and a Financial Technology Engineer. He is a Certified Ethical Hacker, Certified Security Analyst and Microsoft Certified System Engineer.[6] Agboola is a technology solution product developer and [7] has a background in software engineering.

He has contributed to the development of fintech solutions at fintech companies and financial institutions such as PayPal and Standard Bank.


Agboola has a Master of Business Administration degree from Massachusetts Institute of Technology from the Sloan School of Management in Cambridge, Massachusetts. He achieved the standard IT security certifications from EC-Council University which is headquartered in Albuquerque, New Mexico. He received his Project Management and Advanced Computing degree from the University of Westminster in London, England. Agboola has a master’s degree in information technology security and behavioural engineering.[8]

He was an Application Developer for British Telecom Professional Services from January 2003 to January 2004. Agboola was an Application Engineer for PayPal from January 2004 to January 2005. He was part of the Enterprise Infrastructure Solution Development team for Guarantee Trust Bank from January 2005 to March 2009. Agboola was the Transactional Product Development Manager for Standard Bank from April 2009 to March 2010.[9]

He completed the Fundamentals of Finance for The Technical Executive on 15 November 2012 at MIT. He also completed the Developing a Leading Edge Operations Strategy on 16 April 2013 at MIT and the Supply Chain Strategy and Management programme on 6 November 2014. Agboola completed the Essential IT for Non-IT Executives on 13 November 2014 at MIT.[10]

He was the Technology (e-business) Product Developer/Project Manager at Standard Bank Nigeria from April 2010 to June 2014, as well as the Head of Mobile Financial Services at Sterling Bank from July 2014 to October 2014. He was the Google Product Manager from October 2014 to November 2014 and was part of the Management Programme at The Wharton School in 2015. He was the Head of Digital Factory and Innovation at Access Bank from November 2014 to May 2016.

Agboola was the Senior Entrepreneur in Residence at Africa Fintech Foundry from May 2016 to August 2018. He is currently an entrepreneur at Royal Bank of Scotland Business and has been since October 2018. He was part of the Strategic Marketing Programme at Northwestern University at the Kellogg School of Management in Evanston, Illinois in 2017.[11]

He is skilled in Development Tools, Hacking, JavaScript, PHP, PHP Applications, Product Innovation, Product Life Cycle Management, Product Management, Product Marketing, Retail Banking, Security Management, Agent Management System, Card Management Solution and Server Administration. Agboola came up with a Biometric Payment Solution for Standard Bank.[12]

He currently has a mobile money project which he started in 2011. This project offers banking services to people via their mobile phones. It enables anyone with a mobile phone to open a bank account and access banking services such as access to card services, money transfer services, bill payment, merchant services and cardless withdrawals on ATM’s.

Another project Agboola was part of was the Corporate Cards Product Development project from April 2011 to December 2011. This project is designed for corporates to have a healthy cashless environment while using online tools for card management. The aim of the project is to provide solutions for the cash management needs of multinationals.[13]

Awards and Recognition

Agboola was listed as one of the Quartz Africa Innovators 2019 on 19 September 2019.[14]

Agboola was part of the panel for the US Africa Business Summit in Maputo, Mozambique, and spoke during the session of Transforming African Economies Through Digitalization on 20 June 2019.[15]

In May 2019, Agboola was selected as one of six African entrepreneurs to join Endeavor, a non-profit organisation that supports high impact entrepreneurs around the world. This occurred at Endeavor’s 87th International Selection Panel in Madrid, Spain from 24 April 2019 - 26 April 2019.[16]


Agboola was part of the Young African Leaders Initiative at the Young African Leaders Initiative Network from May 2014 to June 2015.

He announced on 21 January 2020 that he managed to raise $35 million in order to facilitate more payments at Flutterwave. The company will use these funds in order to expand its operations to other countries.[17]

Under Agboola’s leadership, Flutterwave has been able to complete the Series B Extension round of financing. The latest round of his financing includes investments from MasterCard, CRE Ventures, Fintech Collective, 4DX Ventures and Raba Capital.[18]

Agboola is part of the board of directors for the Corporate Council on Africa.[19]

He is the Chairman of the Board of Directors at the Great Ife Alumni Association Inc, constituted of graduates and associates of Obafemi Awolowo University in Nigeria.[20]

Agboola became a member of Fast Company’s, a monthly American business magazine, Impact Council, consisting of entrepreneurs, technologists, corporate chieftains, and designers in 2019.[21]


  1. Olugbenga Agboola - F6S. Retrieved 5 March, 2020.
  2. Here is all you need to know about Olugbenga Agboola, the new Flutterwave CEO - Retrieved 5 March, 2020.
  3. Meet Africa’s most valued fintech start-up - Iol. Retrieved 7 March, 2020.
  4. Tech lyin Aoyeji steps down as Flutterwave CEO as cofounder Olugbenga Agboola takes over - Business Insider. Retrieved 5 March, 2020.
  5. Here's Iyinoluwa Aboyeji's (former Flutterwave CEO) resignation letter - DigestAfrica. Retrieved 8 March, 2020.
  6. is all you need to know about Olugbenga Agboola, the new Flutterwave CEO - Retrieved 5 March, 2020.
  7. Olugbenga Agboola - F6S. Retrieved 5 March, 2020.
  8. Tech Hero - Tech4Dev. Retrieved 5 March, 2020.
  9. GB Agboola - LinkedIn. Retrieved 4 March, 2020.
  10. Olugbenga Agboola - MIT Management Executive Education. Retrieved 5 March, 2020.
  11. GB Agboola - LinkedIn. Retrieved 4 March, 2020.
  12. Olugbenga Agboola - F6S. Retrieved 5 March, 2020.
  13. GB Agboola - LinkedIn. Retrieved 4 March, 2020.
  14. Quartz Africa Innovators 2019: leading the change for Africa’s future - QuartzAfrica. Retrieved 5 March, 2020.
  15. Advancing a resilient and sustainable U.S.-Africa partnership - Corporate Council on Africa. Retrieved 5 March, 2020.
  16. Nigerian fintech Flutterwave raises $35m Series-B round - VentureBurn. Retrieved 7 March, 2020.
  17. Olugbenga Agboola: Nigerian CEO raises N12.6bn, plans to expand business operation - Legit. Retrieved 5 March, 2020.
  18. Tech lyin Aoyeji steps down as Flutterwave CEO as cofounder Olugbenga Agboola takes over - Business Insider. Retrieved 5 March, 2020.
  19. Board of Directors - Corporate Council on Africa. Retrieved 5 March, 2020.
  20. Board of Directors - Great Ife Alumni Association Inc. USA. Retrieved 7 March, 2020.
  21. Here are the members of the Fast Company Impact Council - Fast Company. Retrieved 7 March, 2020.