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.
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