Chipper Cash Raises $100 Million to Build Out Crypto Products for the African Market

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Chipper Cash, a 3-year old fintech startup that facilitates cross-border payments across Africa, has closed a $100 million Series C round to introduce crypto and investment products and grow its team.

The company has now, so far, raised $143. 8 million in just one year making it one of the few companies on the continent to achieve this feat.

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SEE ALSOYou Can Now Buy & Sell Bitcoin Across Africa On Chipper Cash

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Chipper Cash is particularly focused on building its crypto products in addition to its other financial product offerings on the market.

According to Serunjogi, CEO, Chipper Cash:

“We’ve launched cards products in Nigeria and we’ve also launched our crypto product. We’re also launching our US stocks product in Uganda, Nigeria and a few other countries soon.

Our approach to growing products and adding products is based on what our users find valuable. As you can imagine, crypto is one technology that has been widely adopted in Africa and many emerging markets. So we want to give them the power to access crypto and to be able to buy, hold, and sell crypto whenever.”

                         – CEO, Chipper Cash

Chipper Cash is currently available in 7 African countries:

  • Ghana
  • Kenya
  • Nigeria
  • Rwanda
  • South Africa
  • Tanzania
  • Uganda
  • UK (first market outside Africa)

The startup currently boasts over 4 million users – a 33% increase in just one year with over 80, 000 daily transactions and over $100 million in value transacted across the platform so far.

Commenting on the recent crypto regulations across Africa, especially in Nigeria, Chipper Cash is looking to work closely with the regulators directly so that their products can be offered in a compliant manner.

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RECOMMENDED READING:  [WATCH] How to Buy Bitcoins in Kenya Using MPESA, Chipper Cash, and Bank Transfer on Paxful on Your Mobile Phone

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