On March 28, 1991, Iyinoluwa Aboyeji was born in Lagos. He was born to parents from Warri, Delta State. After Aboyeji completed his Senior Secondary School Certificate Examination in 2007, he attended Loyola Jesuit College, in Abuja.
Early Life and Schooling
Iyinoluwa Aboyeji then went on to Columbia Intl. College, earning degrees in Economics, Legal Studies, and International Development. At the University of Waterloo, Aboyeji received a B.A. in legal studies.
“I’m just trying to do God’s work,” Aboyeji said in his Nexford University interview.
He grew up in Lagos and went to primary school in the Yaba area and then his family moved to Warri. He left to go to boarding school at Loyola Jersey College, and a lot of his core foundation came from the experience of being in Jesuit education for six years.
He learned about what the purpose of life was and what people really need to be optimizing. He then went to the University of Ibadan and left the city university to spend some time working as an intern. It was an interesting opportunity for him, and his father wanted to send Iyinoluwa’s brother to study science.
Early Career
During his early years, he interned at the United Nations Youth Alliance when he was 18. He then managed one of Canada’s publishing firms, Imprint Publications. He then also founded an education company called Bookneto Inc. This is an e-learning platform which enables professors at universities to teach online courses independently.
Bookneto Inc., the online question and answer tool, originally developed to help facilitate online examination services in a more efficient manner, was acquired by the Canadian Innovation Centre in 2013. With the acquisition came a lot of great things for the company, as well as opportunities for the future.
The Canadian Innovation Center purchased that company in 2013.
“I get a special thrill from connecting with people and ideas that can change the world.”
Iyinoluwa Aboyeji then brought his extensive educational background, passion, and business drive to one of Nigeria’s most reputable companies. Iyinoluwa co-founded Andela and is recognized for the $24 M Mark Zuckerberg investment. With incredible passion and the right financial backing, Andela became a top-tier accelerator for talent. The company trains software developers and gets them jobs with major tech firms.
“You need to know when to stay or quit in a startup. Don’t play the do-or-die mindset.”
Flutterwave
In 2016, after leaving, Aboyeji founded a technology and infrastructure solutions company called Flutterwave.
Flutterwave is a Nigerian fintech company providing payment infrastructure for global merchants and payment service providers across the continent. The company was founded in 2014 by engineers with experience in banking, payments, e-commerce, and technology.
Flutterwave’s platform offers various features to make it easy for merchants to accept payments from customers around the world. For example, the company’s Payments Gateway allows businesses to process credit card payments, bank transfers, and other forms of payment.
In addition to its Payments Gateway, Flutterwave offers merchant tools such as account management, fraud monitoring, and marketing automation. With over two years of experience helping businesses take payments online, Flutterwave is one of the most experienced payment platforms on the continent.
Flutterwave’s platform is accessible from any device or location, making it ideal for merchants who want to expand their reach online. The company also offers a range of features that simplify accepting payments from customers across Africa.
Flutterwave also offers a range of merchant productivity tools, such as fraud prevention software and 24/7 support. In addition to its core product offerings, Flutterwave also provides consulting services and training courses on how to use its platform.
The Flutterwave platform has been praised for its ease of use and fast processing. Merchants can be up and running minutes after signing up for the service. The company has also received positive reviews from industry experts for its high levels of reliability and security.
The company has been recognized as one of the highest-valued financial tech companies in Africa and has been evaluated at $3B. Flutterwave received several investments, series D funds worth $250M and has also been awarded various grants which allowed it to expand operations beyond Nigeria.
HOF portfolio company Flutterwave builds payments technology and infrastructure connecting the global economy to Africa. Under Aboyeji’s leadership, Flutterwave became a fast-growing technology business already having processed over $2B across over 50M transactions. Flutterwave attracted significant investment from experienced players in the space, including Greenvisor Capital, Y Combinator, Greycroft, and Mastercard.
Iyinoluwa Aboyeji stepped down as the Chief Executive Officer of Flutterwave two years after.
“Work with people you can trust, it’s better to be a solo founder than to work with someone who doesn’t have integrity.”
Iyinoluwa Aboyeji’s passion for developing the tech industry in Africa then led him to found Future Africa. This company, also known as the Fund for Africa’s Future, invests in founders tasked with solving complex problems for large markets. In addition, he trains and mentors budding entrepreneurs, preparing them for expansion and learning of funding opportunities.
The goal of FFAF is to provide financial support and assistance to African entrepreneurs so they can expand their businesses, create jobs, and generate revenues that will help improve the quality of life for people in Africa. African entrepreneurs have a lot to offer the global economy. They are creative and resourceful, and their businesses can often be innovative and unique. However, many African entrepreneurs face major challenges in scaling their businesses.
To date, FFAF has invested more than $1 billion in projects that have helped stimulate economic growth and job creation in Africa. In addition, FFAF has provided training and technical assistance to more than 100,000 African entrepreneurs. This assistance has helped these entrepreneurs grow their businesses and create new jobs.
“At heart I’m an education entrepreneur, I think I just did a little stint in fintech to just share some of my experience, but my heart remains in education.”
Positions of Leadership
In November 2018 Street Capital, a business connecting global investors, and angel investors with African entrepreneurs was founded.
In 2018, he joined the board of FilmoRealty, a management services company for facilities and properties.
Aboyeji then founded Future Africa in March 2019 and became a General Partner. This is a technology company with a focus on media, infrastructure, and technology. The company is tasked with funding innovators.
In April 2019 he became an advisory board member of the Share Africa Project.
In October 2019 he became chairman and founder of Talent City Inc. The company has a focus on driving Africa’s digital economy with top technology talents.
Iyinoluwa Aboyeji is on the board of Rainbow Educational Services Limited, which provides high-quality education to students, Share Africa Project, and Filmo Realty.
In addition, he was the Deputy Director-General for the 2019 Presidential Campaign for Madam Oby Ezekwesili.
Aboyeji then became a member of the board of governors in February 2020, at the Loyola Jesuit College.
Awards
“… if you can inspire some kid from Kwara to believe that I can build a global business from Nigeria, it’s possible and you know that’s the real reward.”
Iyinoluwa Aboyeji has received numerous honors and awards which include:
2017: Nomination for Africa Nigeria Prize for Young Person of the Year - The Future Awards
2015: 30 under 30 Most Promising Young Entrepreneurs in Africa – Forbes
2012: World Economic Forum Global Shaper
2011: Nigeria’s top 20 under 20 - Ynaija!
2010: The John C. Holland Award for Youth Leadership - JC Holland Foundation
Iyinoluwa Aboyeji is a brilliant young entrepreneur and black founder who exemplifies black excellence, and who works tirelessly to bring Africa to the forefront of tech. His focus on improving Africa’s technology market and improving people’s lives has earned his profile a part of our Black Excellence Series.
Iyinoluwa Aboyeji is part of our Black Founders50 Series. Download the complete 2023 BBVA Founders50 list here.