Payment platform Flutterwave has concluded the acquisition of Disha, a content creator platform.
Unmask NG understands that with this development, Flutterwave made its first public acquisition since it commenced operations five years ago.
While the acquisition will bolster Disha’s payments checkout process, Flutterwave will help the content creator platform to reposition its value offerings and revenue projections.
More so, Flutterwave will accelerate Disha’s growth as it relates to allowing its users to make transactions in over 150 currencies and 34 countries worldwide.
Disha’s acquisition is also strategic for the payment platform, as it will enable it to take part in the $100 billion global creator economy.
Commenting on the deal, Rufus Oyemade, one of the co-founders of Disha, said “We decided to shut down the company because we ran out of resources to continue driving the very valid vision we had. With Flutterwave, we now have a way to drive both values for creators and revenue to sustain the business. We are happy to have gotten the call from Flutterwave, which actually kept hopes alive.”
On his part, Flutterwave CEO Olugbengba Agboola, stated: “Recently, we have diversified into building tools that will help freelancers, businesses and now creators grow. We saw Disha as an opportunity to capture a new market of indie creators that need innovative tools to showcase their craft and get paid. This acquisition cements our place as a growth partner for freelancers and businesses. For us, Flutterwave Store is to small businesses what Disha is to creators.”
What you should know about Disha
Disha was founded by three entrepreneurs and content enthusiasts, and they are Evans Akanno, Rufus Oyemade, and Blessing Abeng.
Floated in 2019, the platform targets global creators and influencers by equipping them with tools to create a one-page site to curate and share links, content, portfolios, and a checkout system to receive payments.
However, Disha’s revenues were disappointing to the founders in spite of the fact that they had users globally. According to Nairametrics, the content creator platform struggled to make $1,000 on a monthly basis as revenue.
And in view of the fact that the revenue could not sustain the business, the founders resolved to shut down Disha for good.
But having concluded on shutting down Disha, which already had no less than 20,000 users globally, the founders made a u-turn on their unanimous decision, as they considered giving it up to Flutterwave to run.