Yellow Card, a pan-African cryptocurrency exchange, has raised $15 million in a Series A round, the most ever raised by an African cryptocurrency exchange, to expand its personnel and expand across the continent.
Square, Inc., Blockchain.com Ventures, Coinbase Ventures, Polychain Capital, BlockFi, Fabric Ventures, Raba Partnership, MoonPay, GreenHouse Capital, and others participated in the round, which was led by Valar Ventures, Third Prime, and Castle Island Ventures.
Yellow Card was founded by Chris Maurice CEO, and Justin Poiroux CTO and has now evolved to become a Pan-African cryptocurrency exchange.
“Our objective has always been to make bitcoin available anywhere on the African continent,” Maurice explained. “Now, with the help of an incredible team of investors who share our vision, we have the resources to make it a reality.”
People in Yellow Card’s operating nations can acquire cryptocurrency through ATM deposits, bank offices, and partner retail networks.
Since its inception in Nigeria in 2018, the Yellow Card team has worked to make cryptocurrencies such as Bitcoin, Ethereum, and USDT Stablecoin available to anybody in Africa.
With a presence in 12 nations, 110 staff spread over 16 countries, and a nearly 30x rise in users across Africa since the pandemic began, the company now has the largest geographical footprint on the continent.