Flutterwave, a payments company focused on Africa, has raised $170 million in a Series C round, valuing the company at over $1 billion.

The funding round was led by Avenir Growth Capital, a private venture company headquartered in New York, and Tiger Global, a hedge fund and investment firm based in the United States.

DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, PayPal, Salesforce Ventures, Tiger Management, and Worldpay FIS 9yards Capital were among the new and current investors in this round.

Flutterwave, a Nigerian and US-based payments company with offices in Lagos and San Francisco, was founded in 2016 by Iyinoluwa Aboyeji and Ologunro Agboola. The APIs help companies develop personalized payments apps.

The company raised $35 million in Series B funding last year and conducted 107 million transactions worth $5.4 billion. Since then, these figures have risen dramatically. With an overwhelming clientele of foreign firms such as Booking.com, Facebook, Flywire, and Uber, the firm has now handled over 140 million transactions worth more than $9 billion.