More funds belonging to Nigeria-based fintech startup, Flutterwave, were said to be frozen by a Kenyan high court.

Enrich Africa gathered that three bank accounts with a total of 19 M-Pessa paybill numbers were frozen by the court.

According to local reports, Justice Grace Nzioka revealed that Flutterwave is prohibited from spending or transferring the funds.

"A preservation order be and is hereby issued prohibiting 1st respondent or his agents or representative from transacting, withdrawing, transferring, using any other dealings in respect to the money held in the account,” the Judge ruled.

Leading the investigation into the company is Kenya's Assets Recovery Agency (ARA), The agency filed to block the funds from being transferred while accusing Flutterwave of money laundering. The ARA is also seeking to have the frozen millions forfeited to the government of Kenya.

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This is also coming as the latest series of account freezes in barely a month since the sum of $52.5 million belonging to Flutterwave was frozen in several bank accounts operated by the fintech firm.

Following the last indictment, Flutterwave had issued a statement vehemently denying the allegation of fraud, describing it as a calculated attempt to smear its reputation. However, the company is yet to issue any statement in reaction to this latest update.