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For the uninitiated, it is difficult to know where to start when it comes to African FinTech. Nevertheless, there are several notable players to watch, ranging from crypto startups to traditional financial institutions. From a purely technical perspective, a company like Chipper Cash deserves a place on your short list. It offers a no-fee, cross-border payment service that is growing by the day. The company currently serves seven African countries, including Tanzania, Zambia, and South Africa. The firm recently closed a $150 million Series C round led by FTX, a venture fund backed by the likes of Facebook, LinkedIn, and the aforementioned Facebook.
Chipper Cash, a crypto-focused African cross-border payments company, raised a massive $150 million Series C extension round led by crypto exchange FTX. The company is currently operating in seven countries across Africa. It is also backed by Bezos Expeditions and Ribbit Capital.
The company offers a no-fee cross-border payment service that allows users to move money from U.S. to Nigeria, Ghana and Uganda. Currently, the company has over four million users and is expanding to additional countries this year.
Founded in 2018, Chipper Cash operates as a mobile-based P2P cross-border payments service. The startup claims that its services have been used by over five million customers in Africa. To date, it has raised more than $305 million.
The African FinTech startup Chipper Cash recently announced the conclusion of its $150 million Series C extension funding round, led by crypto exchange platform FTX. The investment marks FTX’s first venture into the African market. FTX CEO Sam Bankman-Fried described the collaboration as a compelling use case.
Chipper Cash is a Sub-Saharan African cross-border payment services provider that offers fee-free peer-to-peer cash transfers. Its goal is to make remittances and other money-moving transactions easier for African expatriates. In addition to its local operations, the company has begun offering its services in Europe. Since its founding, Chipper Cash has raised more than $305 million.