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Fintech in Africa is a goldmine. Buyers are betting huge on startups providing a plethora of companies from funds and lending to neobanks, remittances and cross-border transfers, and rightfully so. Every of those companies solves distinctive units of challenges. For cross-border funds, it’s the outrageous charges and regulatory hassles concerned with finishing transactions from one African nation to a different.
Chipper Cash, a three-year-old startup that facilitates cross-border fee throughout Africa, has closed a $100 million Collection C spherical to introduce extra merchandise and develop its group.
It hasn’t been too way back since Chipper Money was final within the information. In November 2020, the African cross-border fintech startup raised $30 million Collection B led by Ribbit Capital and Jeff Bezos fund Bezos Expeditions. This was after closing a $13.eight million Collection A spherical from Deciens Capital and different buyers in June 2020. Therefore
Chipper Cash, a fintech platform conceived by Ham Serunjogi and Maijid Moujaled, in 2018 has raised $100 million Series C funding, making it the fifth African startup to achieve unicorn status.
The platform was created to aid payments across countries in Africa and has continued to make strides that have culminated in its unicorn status.
Leading the Series C funding round was an investment company, SVB Capital, a subsidiary of Silicon Valley Bank.
Other participants include Jeff Bezos’ fund firm, Bezos Expeditions, 500 Startups, Ribbit Capital, Deciens Capital, Brue2 Ventures, and Tribe Capital.
Prior to this funding round, Chipper Cash had, in June 2020, raised $13.8 million Series A led by Deciens Capital, and other participatory investors, and in November 2020, it raised $30 million Series B led by Ribbit Capital and Bezos Expeditions.