April 14, 2024
Olugbenga GB Agboola — Complete Biography, History, and Inventions

Olubibenga GB Agboola is the CEO and creator of Flutterwave, a startup that helps emerging economies grow their businesses. GB is a seasoned entrepreneur with two successful exits and over 15 years of experience establishing scalable financial technology firms.

He has led the development of Fintech solutions for PayPal, Standard Bank, and Google, among other enterprises and financial institutions. His most recent Fintech startup, which focused on straightforward Alternative Payment Methods, was acquired by a major Nigerian bank.

Life of “Olugbenga GB Agboola” At a Glance:

Olugbenga GB Agboola

Name: Olugbenga GB Agboola

Profession: software engineer and entrepreneur

Date of Birth: 1985

Place of Birth: Nigeria

Nationality: Nigerian

Education: University of Westminster,

Massachusetts Institute of Technology

Known for: Founding Flutterwave

Who is Olugbenga GB Agboola?

Olugbenga GB Agboola, Senior Entrepreneur, has 14 years of experience building scalable financial technology enterprises.

He is the CEO and co-founder of Flutterwave, a payments technology startup with offices and operations across Europe and Africa. The firm is headquartered in San Francisco.

GB was granted the remarkable opportunity to work as a Senior Entrepreneur in Residence at Africa Fintech Foundry and as a Business Entrepreneur at the Royal Bank of Scotland due to his background in software engineering and understanding of enterprise architecture and payments.

GB’s educational experiences include the University of Westminster, the Wharton School of Management, and the Massachusetts Institute of Technology.

In addition to being named to Time Magazine’s 2021 Next 100 list and Fortune Magazine’s renowned 40 under 40 list for his leadership and inventive achievements, he was named African Leadership Magazine’s Young Business Leader of the Year (2020).

Birth, Education, And Early Life of “Olugbenga GB Agboola” :

Olugbenga Agboola was born in Lagos, Nigeria. Agboola earned a Master of Business Administration from the Massachusetts Institute of Technology Sloan School of Management in Cambridge, Massachusetts. 

He got standard IT security certifications from EC-Council University in Albuquerque, New Mexico. He earned a degree in Project Management and Advanced Computing from the University of Westminster in London, England. 

Agboola has a master’s degree in behavioral engineering as well as a certificate in information technology security.

He worked as an application developer at British Telecom Professional Services from January 2003 until January 2004. 

Agboola joined PayPal in January 2004 as an application developer and stayed until January 2005. He was a part of Guarantee Trust Bank’s Enterprise Infrastructure Solution Development team from January 2005 until March 2009. 

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Agboola worked as the Manager of Transactional Product Development at Standard Bank from April 2009 until March 2010.

He graduated from MIT’s Fundamentals of Finance for The Technical Executive course on November 15, 2012. 

He also graduated from MIT’s Developing a Leading Edge Operations Strategy module on April 16, 2013.

 He completed the Supply Chain Strategy and Management course on November 6, 2014. Agboola completed MIT’s Essential IT for Non-IT Professionals course on November 13, 2014.

From July 2014 to October 2014, he was the Head of Mobile Financial Services at Sterling Bank, and from April 2010 to June 2014, he was the Technology (e-business) Product Developer/Project Manager at Standard Bank Nigeria.

 He was the Google Product Manager from October to November of 2014. He joined The Wharton School’s Management Programme in 2015.

 From November 2014 until May 2016, he led innovation and the digital factory at Access Bank.

Agboola was Africa Fintech Foundry’s Senior Entrepreneur in Residence from May 2016 to August 2018.

He has been an entrepreneur with Royal Bank of Scotland Business since October 2018.

He attended Northwestern University’s Strategic Marketing Programme at the Kellogg School of Management in Evanston, Illinois, in 2017.


Among his specialties are tool development, hacking, JavaScript, PHP, PHP applications, retail banking, security management, agent management systems, card management solutions, and server administration.

 He has also worked in product development, life cycle management, management, and marketing. Agboola created a biometric payment method for Standard Bank.

He started a mobile money project in 2011 and is still working on it now. Consumers can use mobile devices to obtain financial services under this plan. 

Anyone with a smartphone may open a bank account and have access to banking services such as bill payment, merchant services, card services, money transfer services, and cardless ATM withdrawals.

Agboola worked on the Corporate Cards Product Development project from April to December 2011.

This project’s purpose is to provide corporates with online card management solutions in a healthy cashless environment. 

The project’s purpose is to provide worldwide organizations with cash management solutions.

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Founding Flutterwave


Flutterwave was launched to provide digital payment infrastructure for Africa and allow businesses to send and receive money both locally and globally.

 Flutterwave has processed over $2.4 billion across all product platforms in just two years and received numerous major awards, including The Asian Banker’s “Best Technology Platform” and participation in the “Top 100 Fintech Firms” list.

Before founding Flutterwave, Olugbenga worked on the development of fintech solutions at a variety of Internet businesses and financial institutions, including PayPal and Standard Bank. He had two successful exits as a serial entrepreneur. He is a software developer with a master’s degree in behavioral engineering and information technology security.

Awards & Achievements

Agboola was included in the Quartz Africa Innovators 2019 list on September 19, 2019.

Agboola spoke on the panel Transforming African Economies Through Digitalization on June 20, 2019, at the US Africa Business Summit in Maputo, Mozambique.

In May 2019, Agboola was chosen as one of six African company entrepreneurs to join Endeavour, a charity that aids internationally important business owners. 

This took place in Madrid, Spain, on April 24-26, 2019, as part of Endeavor’s 87th International Selection Panel.

Agboola took part in the Young African Leaders Initiative at the Young African Leaders Initiative Network from May 2014 to June 2015.

In 2020, he had successfully secured $35 million to facilitate additional payments at Flutterwave. The firm used these funds to expand its operations to other countries.

Under Agboola’s leadership, Flutterwave completed the Series B Extension round of fundraising. 

His most recent round of investment was led by Raba Capital, CRE Ventures, Fintech Collective, MasterCard, and 4DX Ventures.

Agboola is a member of the board of directors of the Corporate Council on Africa.

He is the Chairman of the Board of Directors of the Great Ife Alumni Association Inc., which is made up of associates and alumni of Nigeria’s Obafemi Awolowo University.

Additionally, Agboola became a member of Fast Company’s Impact Council in 2019, a monthly American business publication that brings together engineers, corporate executives, entrepreneurs, and designers.

Olugbenga Agboola Net Worth

Olugbenga Agboola, the CEO and co-founder of Flutterwave, a Nigerian fintech company, has an estimated net worth ranging from $13 million to $66 million. The most recent estimate places his net worth at $13 million.

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Flutterwave, under his leadership, has achieved a valuation of $3 billion.

Agboola, born in 1985, is a Nigerian software engineer and entrepreneur, and he was honored with Nigeria’s National Honour Medal of the Officer of the Order of Niger (OON) for his contributions to technology and economic development.

His success in the tech industry has contributed to his substantial net worth.

Flutterwave CEO scandal

Olugbenga Agboola, the CEO and co-founder of Flutterwave, has been embroiled in a scandal involving allegations of bullying, financial impropriety, conflict of interest, and sexual harassment.

Former employee Clara Wanjiku Odero accused the company’s chief executive of bullying her and accused the company of negligence that led to fraud.

Additionally, there were allegations of the CEO’s involvement with his previous employer, Access Bank, while working on Flutterwave, and accusations of creating a phantom co-founder identity to award himself more shares in the company’s early years.

Flutterwave and Mr. Agboola have denied these allegations.

The scandal has raised concerns about governance in Nigeria’s fintech sector.

Olugbenga Agboola House

Olugbenga Agboola, the CEO of Flutterwave, recently acquired a luxurious mansion in Miami Beach for $7.1 million, which is approximately N3.2 billion.

The property features six bedrooms and seven bathrooms and was previously owned by the Boschetti Group, a real estate development firm that purchased the plot for $1.2 million in 2021 and built the home last year.

This purchase comes amid reports of a hack in which about N2.9 billion was removed from Flutterwave’s account.

Agboola’s success in the tech industry, particularly with Flutterwave, has contributed to his substantial net worth, which is estimated to be around $66 million.

Olugbenga Agboola Wife

Olugbenga Agboola, the CEO and co-founder of Flutterwave, is not married. There are rumors about his relationship status, but he has not publicly disclosed any information about his wife or girlfriend.

Olugbenga Agboola LinkedIn

Yes, Olugbenga Agboola has a LinkedIn profile. You can find his profile at https://www.linkedin.com/in/gbagboola.

Olugbenga Agboola Twitter

Yes, Olugbenga Agboola has a Twitter account with the handle @GbengaGbengaa.

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