Africa Fintech Startup, Chipper Cash expands to Nigeria

Africa cross-border payment startup, Chipper Cash, has expanded into Nigeria. It has hired a country manager, Abiodun Animashaun, to help spread the word in Africa’s most populous country.

The San Francisco based startup will be doing this in conjunction with PayStack, the payment gateway company.

Abiodun Animashaun, co-founder of Gokada will be joined by Alicia Levine from Kenyan based internet hardware and service startup, BRCK. She will be Chipper Cash’s Chief Operating Officer.

Chipper Cash was founded by Ham Serunjogi (Uganda) and Maijid Moujaled (Ghana) in October 2018 and currently has offices in Ghana and Nigeria. It offers no-fee, P2P, cross-border mobile-money payments in Africa.

Some weeks ago, it announced that it raised a $2.4 million seed led by Deciens Capital. 

According to the company, it now has more than 70,000 active users and has processed 250,000 active transitions on cross-border mobile-money payments product.

According to Sejunrogi in a discussion with Techcrunch, the company will launch another product, Chipper Checkout, a merchant-focused, fee-based C2B mobile payments product several months after its mobile payments launch.

The imperative to move to Nigeria was pretty straight-forward. “Nigeria is the largest economy and most populous country in Africa. Its fintech industry is one of the most advanced in Africa, up there with Kenya and South Africa,” Sejunrogi said.

“I think for any company doing fintech across borders, that is looking to be successful in Africa, it’s imperative that you have a presence in Nigeria.”