African Fintech Big Raises $150 Million in Funding Spherical Led by FTX, Agency Now Valued at Over $2 Billion – Fintech Bitcoin Information


Chipper Cash, one of Africa’s largest fintechs, recently closed a Series C funding round that raised $ 150 million, a Techcrunch report found.

New investors take part in the final round

According to the report, this latest round of funding – led by Sam Bankman-Fried’s FTX – comes just under six months after fintech startup Chipper Cash raised $ 100 million in the first Series C funding round.

In addition to FTX, other investors who participated in Chipper Cash’s most recent funding round were SVB Capital, who led the first Series C. Also reinvested were Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures and Tribe Capital.

The report acknowledges that new investors have entered this series. However, it is said that the names of these investors have not yet been released. It also shows that Chipper Cash has now raised over $ 305 million after recovering $ 150 million. The company is valued at over $ 2 billion today.

Founded in 2018 by Ham Serunjogi, the current 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 quoted Serunjogi as explaining why Chipper Cash beats the competition. He said:

Chipper Cash offers transfers much cheaper than anyone else. More importantly, we are now the first I honestly know who can support Africa with sending money to the US.

Chipper Cash not only enables cheaper cross-border payments, but also opens up the world of social payments, the report said. The fintech has already partnered with Twitter to launch its tips feature, also known as the Tip Jar, so that creators can get money on the platform.

What do you think of Chipper Cash’s recent capital increase? Let us know what you think in the comments section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons, farzand01

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