In a major change of the guard, Bode Abifarin, the chief operating officer who helped build Flutterwave’s operations from the ground up, has resigned from the African fintech unicorn after six years with the company.
Abifarin announced her departure in a reflective LinkedIn post on Tuesday, calling her tenure a “cocktail of highs, lows, victories and failures” centered around “solving payment problems for our customers.” She originally joined Flutterwave in 2017 after spending 15 years at KPMG Nigeria.
“Bode has been the heartbeat of our operations, infusing her passion and dedication into every aspect at Flutterwave,” said CEO Gbenga Agboola. He shared that Abifarin will now “focus on building, teaching and education” initiatives.
The operations chief is just the latest high-profile executive to exit Flutterwave in recent months. Former CFO Oneal Bhambani, ex-VP of design Ted Oladele, and the startup’s former U.S. growth head Jimmy Ku have all moved on as well.
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The leadership turnover comes as Flutterwave is rumored to finally be preparing for an initial public offering, which has been anticipated since 2022 after it achieved a billion-dollar unicorn valuation.
While the talent exodus raises questions about its IPO readiness, Flutterwave has scored some important wins lately too. It was cleared of financial misconduct allegations in Kenya that threatened its reputation last year. The startup has since refreshed its executive team, hiring five new leaders for risk, compliance, and expansion roles.
Flutterwave has also adjusted its product roadmap, doubling down on its fast-growing Send remittances app while shutting down its struggling Barter virtual card service. The fintech innovator added esteemed Nigerian architect Olajumoke Adenowo to its board as it maps international expansion plans.
As Flutterwave recalibrates toward an expected IPO, Abifarin’s resignation highlights the executive turbulence facing the company amid its breakneck scale and ambitions. But the unicorn seems determined to reset its leadership ranks as it chases its next pivotal phase of growth.
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