Flutterwave employees can now borrow cash towards their vested shares with out promoting them, via a programme with Techdollar, a US private-credit startup. The loans give workers entry to money earlier than an organization sale or stock-market itemizing whereas permitting them to retain any future positive aspects on their fairness.
“I always say that our people are our secret sauce and the driving force behind our success at Flutterwave, and we believe they should share in the value they create without having to wait for a major liquidity event,” Olugbenga “GB” Agboola, Flutterwave’s founder and CEO, stated in a press release.
The deal offers a substitute for promoting shares throughout a funding spherical or ready years for an exit—two of the few methods startup employees in Africa have traditionally been capable of flip fairness into money. Flutterwave, valued at $3.25 billion, stated in April that it was not close to an initial public offering (IPO).
Techdollar will lend towards employees’ vested shares for six to 12 months, usually advancing lower than half their worth. If a borrower defaults, the lender can seize and promote the pledged shares. Employees maintain their fairness in the event that they repay the mortgage however danger shedding it in the event that they don’t.
The loans will likely be paid into accounts that employees open with Nuvion, a Miami-based digital financial institution for companies that already powers Flutterwave’s stablecoin products.
For African startup employees, fairness can signify a big a part of their compensation with out offering a method to meet rapid bills. Companies not often promote or record, leaving workers ready for a liquidity occasion that will take years or by no means occur.
In 2025, Moniepoint and Arnergy allowed employees to promote a part of their fairness whereas the businesses had been elevating cash. In each circumstances, employees offered shares at a reduction to the worth new traders paid.
A Stears and Ventures Platform report discovered {that a} current rise in African exits got here as a lot from a 33% fall in funding as from a 36% rise in exits, and that fund managers held their stakes for a median of 6.2 years earlier than exiting.
The identical report counted 181 verified VC-backed exits throughout the continent between 2011 and 2026, displaying how rare exits remain.
How the loans work
Techdollar lends to employees, founders, and traders at non-public firms, utilizing their shares as collateral. The firm says it costs loans utilizing stay secondary market information, although few African startups have shares that commerce usually sufficient to supply it. It verifies possession via audits and pays out inside 24 to 48 hours.
Loans run for a set six to 12 months and are secured by vested shares. Techdollar usually lends lower than half the worth of the pledged fairness. Interest runs from 0.80% to 1.5% a month, which is 9.6% to 18% a yr in easy phrases, with a median beginning price of 16%.
Employees maintain any acquire if Flutterwave’s valuation rises, they usually may lose the pledged shares if it falls. If the shares lose worth in the course of the mortgage, debtors get a window so as to add money.
According to Techdollar’s terms of service, pledged shares can face margin calls, compelled sale, or seizure on default, and debtors “may lose some or all of their pledged equity.” Shares change palms solely after a qualifying default.
“Traditional lenders have historically catered to founders and executives with substantial equity holdings, while employees with millions of dollars in private-company shares are often left with limited options,” stated David Tollemache, Techdollar’s co-founder.
Founded in 2016, Flutterwave lets companies gather and ship funds throughout 34 African international locations. In June, it raised a Series E at a $3.25 billion valuation, with an undisclosed funding from Ripple, the US blockchain funds firm. The valuation was barely above the $3 billion it reached in February 2022 after a $250 million Series D led by B Capital.
In June, Flutterwave promoted more than 100 employees, about 25% of its international workforce. It made a one-time financial aid fee to all workers and added tax assist and cost-of-living changes for employees in Nigeria.
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