Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

African fintech startup, Chipper cash reaches Unicorn status as they raise $100M series C funding

Janet John by Janet John
May 31, 2021
in Business News
African fintech startup Chipper cash reaches Unicorn Status as they raise $100M series C
Share on FacebookShare on TwitterShare on Linkedin

Chipper Cash, a fintech startup that facilitates cross-border payment across Africa has raised $100 million in a Series C round.

This funding round was led by SVB Capital, the investment arm of U.S. high-tech commercial bank, Silicon Valley Bank. Others who participated in this round include existing investors — Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, 500 Startups, Tribe Capital, and Brue2 Ventures.

Founded in 2018 by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled, Chipper Cash offers mobile-based, no fee, P2P payment services in seven countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya. Now it has expanded to a new market outside Africa, the U.K.

RelatedPosts

Why Nigerian FinTechs are facing fraud charges in Kenya

Kenyan central bank governor says Flutterwave, Chipper Cash not licensed to operate in Kenya

In November 2020, Chipper Cash raised $30 million Series B funding led by Ribbit Capital and Jeff Bezos’ fund, Bezos Expeditions. This was after closing a $13.8 million Series A round from Deciens Capital and other investors in the same year.

According to Tech Crunch, the number of users on Chipper Cash has increased to 4 million, up 33% from last year. The company also averaged 80,000 transactions daily in November 2020 and processed $100 million in payments value in June 2020.

News continues after this ad


This new funding round will be used to introduce more products and grow its team. The company currently has more than 200 employees and plans to increase its workforce by hiring 100 staff throughout the year.

According to the CEO of Chipper Cash, Ham Serunjogi, “We’ve launched card 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.”

Chipper Cash is currently valued between $1 billion to $2 billion joining billion-dollar companies in Africa like Flutterwave, Jumia, Interswitch, etc. Up until last week, the only private Unicorn startup in Africa this year was Flutterwave. With this new valuation, Chipper Cash has attained Unicorn Status.

News continues after this ad


What they are saying

The managing director of SVB Capital Tilli Bannett said, “The VC firms invested in Chipper Cash because it has created an easy and accessible way for people living in Africa to fulfil their financial needs through enhanced products and user experiences.

As a result, Chipper has had a phenomenal trajectory of consumer adoption and volume through the product. We are excited at the role Chipper has forged for itself in fostering financial inclusion across Africa and the vast potential that still lies ahead.”

Related

Tags: Chipper cashHam SerunjogiMaijid MoujaledSVB Capital

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Consumer Goods-led sell-off sees NGX start the week shedding N19 billion
    • Banks, organised private sector seek increased forex allocation to real sector
    • Oil prices slump by 5% on weak China economic data, expected Iran supply

    Follow us on social media:

    Recent News

    EFG Hermes, Impact of COVID-19 pandemic on consumer packaged goods in Nigeria

    Consumer Goods-led sell-off sees NGX start the week shedding N19 billion

    August 15, 2022
    Banks warn customers against violation of CBN forex directives

    Banks, organised private sector seek increased forex allocation to real sector

    August 15, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com