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Home Fintech

Chipper Cash, an African cross-border payments company, has raised $150 million at a valuation of over $2 billion.

Tech Gist Africa by Tech Gist Africa
11/09/2021
in Fintech, Innovator of the Week, News - East Africa, News - South Africa, News - West Africa, Payment, Venture Capital
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Chipper cash

Chipper cash

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African cross-border payments provider Chipper Cash has secured $150 million in an expanded Series C round, which included participation from FTX, Ribbit Capital, SVB Capital, Deciens Capital, and Bezos Expeditions.

Chipper Cash is now a unicorn, having been valued at over $2 billion.

CEO Ham Serunjogi and President Maijid Moujaled founded the company in 2018.

Additionally, Chipper Cash has entered the U.S. market, and it has begun sending money to Nigeria and Uganda, with plans to expand to more countries in the near future. In addition, in 2022, the corporation intends to begin sending money from Africa to the United States in South Africa, Uganda, and Ghana.

For FTX, this is their first venture into the African market with Chipper Cash.

It’s an indication that FTX is happy by Chipper Cash’s ability to scale over the past three years, as well as its enthusiasm in the crypto industry.

According to the company, Chipper Cash has more than 4 million users.

Chipper Cash is active in seven African countries: Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania, and Uganda.

 

Read more on Tech Gist Africa:

Tala, a Kenyan fintech company, has raised $145 million in a Series E round of funding

Wave, a FinTech startup based in Senegal, has closed the largest Series A round for an African FinTech at $200 million

MNT-Halan, an Egyptian fintech, has raised $120 million in funding

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