African-crossborder Payment Startup, Chipper Cash Lands in South Africa

Ghana, Kenya, Rwanda, Tanzania, Uganda, and Nigeria are the countries that Chipper Cash, the African cross-border payment startup, has unveiled its payment service. It had no presence in Southern Africa. Today, the startup has announced that it is ready to offer its payment services in South Africa.

Some of the services the startup will offer to South Africans include free unlimited instant domestic money transfers, investment in cryptocurrencies, and purchasing airtime and data.

Having raised $100 million in a Series C funding round in June 2021, and with over 4 million users globally, up to 80,000 transactions processed per day, the startup has experienced exponential growth since its first launch.

“We are very excited for South Africa to experience Chipper Cash and take advantage of the app’s features such as fast and safe P2P money transfers, buying discounted airtime and data, and investing in selected cryptocurrencies,” said Pardon Mujakachi, Vice President: Strategy & Partnerships, Africa.

“We believe that Chipper Cash will help formalise local and regional remittances that tend to be sent through informal channels, which can be expensive, unsafe, and unreliable. Such a meaningful difference is true to the goals and vision of Chipper Cash’s founders,” he concludes.

The fintech startup was founded in 2018 by Ham Serunjogi (CEO) and Maijid Moujaled (President) and it is headquartered in San Francisco, USA.

It won’t be an easy ride for Chipper Cash in South Africa as it has Jumo, Yoco, Adumo, Nomanini, Ukheshe, Akiba Digital, Paystack, and Flutterwave to compete with.