Flutterwave broadens its portfolio with the acquisition of Disha, a platform for content creation
Flutterwave broadens its portfolio with the acquisition of Disha, a platform for content creation
In order to further its growth strategy, Flutterwave, the leading pan-African payments technology company, acquired Disha in December 2017.
On a global scale, Disha is a Nigerian platform that provides tools and templates for makers and creators to showcase their work, grow their businesses, and receive payments.
Disha will continue to operate as an independent brand following the acquisition, but its users will be able to earn money for their digital content through the use of Flutterwave's payouts and collections solution.
Because the startup had announced earlier this year that it was on the verge of closing its doors, this is a significant win for Disha. Furthermore, this is the first time that Flutterwave has made an official acquisition announcement, following a flurry of rumors. The value of the acquisition, on the other hand, has not been disclosed.
Olugbenga Agboola, the CEO of Flutterwave, stated that the acquisition provided the company with an opportunity to expand into a new market while also establishing Flutterwave as a growth partner.
Disha
Disha was established in 2019 by Evans Akanno, Rufus Oyemade, and Blessing Abeng. Through the Disha platform, which allows users to create a one-page website on which they can curate and share links, content, and portfolios, as well as a checkout system that allows them to accept payments from their followers, Disha hopes to empower creators and influencers around the world.
Prior to the acquisition, Disha had approximately 20,000 users and claimed a monthly growth rate of approximately 100 percent, according to the company. But because of the startup's global reach, revenue was extremely low, and the company struggled to make a profit. A lack of resources forced the startup to close its doors, and two of its founders, Akanno and Abeng, left to pursue other opportunities.
Rufus Oyemade, who has taken on the role of software and architectural lead, expressed satisfaction with the acquisition in his new position.
The acquisition of Flutterwave will improve Disha's payment checkout process while also expanding the platform's user base by enabling users to conduct transactions in over 150 currencies and 34 countries around the world.
After that, Disha intends to concentrate on features and integrations that make it easier for creators to schedule meetings and exhibitions, generate sustainable revenue through subscriptions, and utilize emerging technologies in the creator space.
The expansion strategy of Flutterwave
Flutterwave, a cross-border payments platform based in Nigeria, was awarded unicorn status earlier this year for its achievements. As a result, it has formed a number of partnerships and collaborative efforts. One such collaboration is with PayPal, which allows PayPal customers to make payments to African merchants using the Flutterwave payment platform, among other things.
Acquisition of Disha also represents an opportunity to enter a new environment. NFTs are the newest trends, and the market expects to spend more than $10 billion on them in the third quarter of 2020, according to analysts. Because the majority of Disha's users are based in the United States, the United Kingdom, and Europe, the company is well-positioned to facilitate transactions involving the ownership and sale of these digital experiences.
