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Welcome back to TSL Weekly Roundup #14—#RealTalk #RealLessons From Founders Who Took The Startup Leap 🚀

💡 This week, we’re spotlighting GB Agboola, a builder at heart who’s been shaping the future of fintech long before Flutterwave.

With a background in engineering and stints at PayPal and leading African banks, GB saw first-hand the challenges of fragmented payments across the continent.

That insight sparked Flutterwave—a $3B fintech unicorn now powering millions of transactions across Africa.

But his journey wasn’t all smooth sailing. From endless license rejections to building trust in over 30 markets, GB’s story is a testament to resilience and staying true to the mission.

Curious about how he did it? Dive into the episode and connect with GB on Twitter✨

In this episode, we sit down with GB to hear:

• How his time at PayPal and African banks revealed the massive payment gap across Africa (00:02:00),
  

• Why building a fintech isn’t about technology—but about trust (00:06:30),
  

• The brutal reality of navigating licenses in over 30 markets (00:08:00),
  

• How storytelling became Flutterwave’s superpower in attracting investors and customers (00:11:00),
  

• Why he believes Africa’s future lies in millions of small, profitable businesses—not just unicorns (00:13:00),

….and so much more!

Key takeaways:

TL;DR:

• Start with Real Problems, Not Big Ideas: GB built Flutterwave to solve a problem he witnessed first-hand—Africa’s fragmented payment systems. Find the inefficiencies around you and build solutions that matter.
  
  

• Trust is Everything in Fintech: Payments aren’t just about code. GB learned early that fintech is a trust game. Building relationships with regulators, banks, and customers is just as important as great tech.
  
  

• Educate Before You Pitch: Most investors didn’t understand Africa’s payment landscape. GB’s secret? Storytelling. He educated first, pitched second—turning complex problems into clear opportunities.
  
  

• Profitability Over Unicorn Chasing: GB believes Africa doesn’t need more unicorns—it needs more small, profitable businesses.
  
  

• Scale Responsibly: In the early days, speed mattered most. But as Flutterwave scaled, GB learned that stability and trust trump fast shipping. Ship fast when small, but ship carefully when big.

• 💡 Spotting the Problem: How GB’s Banking Background Sparked Flutterwave (00:02:00):
  
  GB didn’t set out to build a unicorn—he set out to fix a clear, frustrating problem he’d seen first-hand.
  
  During his time at PayPal and working with leading African banks, he noticed a huge gap: African businesses couldn’t easily process cross-border payments.
  
  If a business in Accra wanted to get paid by a customer in Lagos, the money would bizarrely route through New York before arriving.
  
  For GB, it made no sense—“Money doesn’t actually move; it’s the instruction that does,” he explains.
  
  This inefficiency was stifling African businesses, making it hard for them to trade across borders and scale.
  
  GB’s vision? Build an infrastructure that made payments seamless across Africa, breaking down these outdated financial silos.
  
  

• 🚀 Payments Are a Trust Game—Not a Tech Game (00:06:30):
  
  One of GB’s biggest wake-up calls? Fintech isn’t just about the code. It’s about trust.
  
  When Flutterwave launched, GB and his team thought they just needed solid tech.
  
  But they quickly learned that payments are deeply rooted in trust ecosystems—from banks and regulators to merchants and customers.
  
  Earning licenses across 30+ markets wasn’t about compliance; it was about signalling trustworthiness.
  
  GB recounts the relentless process of applying for licenses, sometimes five times for a single approval.
  
  “We planned for rejection. Every time we got a ‘no,’ we’d already have the next application lined up,” he shares.
  
  

• 🎯 Storytelling as a Fundraising Superpower (00:11:00):
  
  When pitching Flutterwave to investors, GB faced a common hurdle: most VCs didn’t understand Africa’s payment landscape.
  
  Rather than jumping straight into metrics and market sizes, GB realized he had to educate before he could persuade.
  
  His pitches became part storytelling, part education—highlighting Africa’s fragmented payment systems and the enormous opportunity in fixing them.
  
  By painting a vivid picture of the market gap, GB helped investors “see the vision” and why Flutterwave was uniquely positioned to solve the problem.”
  
  “Half our pitch was education, the other half was ambition. Together, that closed deals.”
  
  

• 💸 Africa Doesn’t Need More Unicorns—It Needs More Profitable Businesses (00:13:00):
  
  Despite leading a $3B company, GB offers a counterintuitive insight: Africa doesn’t need more unicorns. It needs more $20M profitable businesses.
  
  He argues that an economy thrives on small-to-mid-sized companies that create jobs, foster innovation, and scale sustainably. “Imagine a million $20M businesses in Africa. That’s how you change an economy,” he says.
  
  He encourages founders to focus on profitability early, especially in emerging markets where venture funding can be scarce or volatile.
  
  

• 📈 Scaling? Shift From “Ship Fast” to “Ship Responsibly” (00:24:00):
  
  In Flutterwave’s early days, the team moved fast, releasing features quickly to test the market. But as the company scaled, the stakes grew.
  
  A small bug could now impact millions of users and disrupt critical payments.
  
  GB shares how Flutterwave’s culture shifted to “shipping responsibly”—balancing speed with stability.
  
  Their remittance product, SendApp, which helps Africans abroad send money home, is a prime example.
  
  It was built on years of refining their API infrastructure, focusing on both usability and reliability.
  
  Key takeaway? Scaling changes how you build. Early on, speed is key. But as you grow, processes and quality control become critical to maintaining trust and user satisfaction.
  
  “When you’re small, you ship fast. When you scale, you ship carefully. That’s how you keep growing without breaking things.”
  

Want to hear more? Dive into the full conversation on YouTube, Spotify or Apple Podcasts!

🎥 Get a Glimpse of the Action Below…

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💡What if rejection wasn’t a setback, but a strategy? GB, the founder of Flutterwave, didn’t just face obstacles—he embraced them. In this ... See more

🚀 What resonated most with you? Share your biggest takeaways from this episode with us on YouTube.

Let’s keep the conversation going!

Resources to help you take the Leap📚

🎯Africa’s Investment Boom: The $3 Trillion Blind Spot

🚀The latest on IPO and exits in the pan-African tech market

📚Hustle Fund: Why founders should slow down

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