Flutterwave Writes Off Netinfopay Investment
Flutterwave UK Limited has written off its entire investment in Cyprus-registered payment provider Netinfopay Ltd. after a central bank objection.
Updated on Nov. 2, 2026 in Financial Services
Flutterwave UK Limited wrote off its entire investment in Cyprus-registered payment provider Netinfopay Ltd. The write-off followed an objection from the Central Bank of Cyprus received in May 2025.
Why it matters
The move reflects regulatory scrutiny of cross-border payments acquisitions, a pattern also seen when Flutterwave's attempt to buy Railsr collapsed under U.K. Financial Conduct Authority review. The central bank's specific grounds for blocking the transaction have not been publicly disclosed.
Flutterwave UK held 100 percent of Netinfopay's ordinary shares from 2023 until the write-off, against a company valuation of $3 billion. The reasons behind the Central Bank of Cyprus objection remain undisclosed.
The players
Flutterwave
Flutterwave is a Nigerian-founded payments company that processes cross-border and local payments across Africa and beyond.
Central Bank of Cyprus
The Central Bank of Cyprus is the national monetary authority responsible for supervising payment institutions operating in Cyprus.
The details
Netinfopay is a subsidiary of NETinfo Plc, a Cyprus-based provider of digital banking software. Flutterwave also holds a 25 percent stake in Cairo-headquartered gateway Paymob and a stake in South African startup Ozow.
Timeline
May 2025: Central Bank of Cyprus objection received.
2023: Flutterwave UK acquired Netinfopay shares and its Railsr acquisition attempt collapsed.
2024 year end: Annual financial disclosures reported the write-off.
Market Landscape
Regulators in the U.K. and Cyprus have both pushed back on Flutterwave's acquisition strategy, following the collapse of its Railsr deal in 2023. The pattern highlights how cross-border payments consolidation faces heightened supervisory review.
Customers of Flutterwave and its partners may see changes in which payment services are available in certain markets as the company reshapes its holdings. Businesses relying on cross-border payment providers should monitor how regulatory decisions affect service continuity.
The takeaway
Regulatory objections can unwind payments deals even after ownership is established, so companies pursuing cross-border acquisitions face sustained scrutiny. Readers tracking the sector should watch how supervisors in Cyprus, the U.K. and elsewhere approach similar transactions.
Further reading
For broader context on regulatory oversight of cross-border payments, see Financial Services.
Source note: This article includes information reported by Businessday NG.
