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African Fintech Giant Raises $150 Million in Funding Round Led by FTX, Company Now Valued at Over $2 Billion - Fintech
Chipper Cash, one of Africa's largest fintechs, recently closed a Series C funding round, raising $150 million, a report from Techcrunch revealed. New Investors Join Latest Round According to the audit report, this latest funding round – which was led by Sam Bankman-Fried's FTX – comes barely six months after fintech startup Chipper Cash raised $100 million in its first Series C funding round. In addition to FTX, other investors who participated in Chipper Cash's latest funding round were SVB Capital, which led its first Series C. Deciens Capital, Ribbit Capital, … also reinvested.
African Fintech Giant Raises $150 Million in Funding Round Led by FTX, Company Now Valued at Over $2 Billion - Fintech
Chipper Cash, one of Africa's largest fintechs, recently closed a Series C funding round, raising $150 million, a report from Techcrunch revealed.
New investors participate in the latest round
Loud Test report, this latest funding round – which was led by Sam Bankman-Fried's FTX – comes barely six months after fintech startup Chipper Cash raised $100 million in its first Series C funding round.
In addition to FTX, other investors who participated in Chipper Cash's latest funding round were SVB Capital, which led its first Series C. Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures and Tribe Capital also reinvested.
The report acknowledges that new investors have participated in this series. However, it is said that the names of these investors have not yet been made public. It also shows that after raising $150 million, Chipper Cash has now raised over $305 million. The company is now valued at over $2 billion.
Founded in 2018 by Ham Serunjogi, now CEO, and Maijid Moujaled, the fintech specializes in cross-border peer-to-peer payments. According to the report, Chipper Cash services are currently used in seven African countries: Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania and Uganda.
Beat the competition
The report quotes Serunjogi explaining why Chipper Cash beats the competition. He said:
Chipper Cash offers transfers significantly cheaper than anyone else. More importantly, we are now the first that I honestly know who can support Africa in terms of remittances to the US.
Chipper Cash not only enables cheaper cross-border payments, but also opens up the world of social payments, the report says. The fintech has already partnered with Twitter to launch its tips feature, also known as Tip Jar, to allow creators to receive money on the platform.
What do you think of Chipper Cash's recent capital increase? Tell us what you think in the comments section below.
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