Chipper Cash, an African cross-border payment startup has secured $6 million investment led by Deciens Capital to fund its Southern Africa expansion.
The San Francisco-based fintech startup offers mobile-based, no fee, P2P payment services in six countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, and Kenya.
It will use the capital to grow its team and move into new geographic areas, according to CEO Ham Serunjogi.
Recall that Chipper Cash in May raised $2.4 million led by Deciens Capital and was joined by 500 Startups and Liquid 2 Ventures and 3 months after, it expanded to Nigeria.
For the $6 million seed round, it featured previous investors, and a few new backers, such as Boston based Raptor Group according to TechCrunch.
Co-founded by Ham Serunjogi (Uganda) and Maijid Moujaled (Ghana) in October 2018, Chipper Cash offers no-fee, P2P, cross-border mobile-money payments in Africa. The payment startup is based in San Francisco with offices in Ghana and Nairobi. Since inception, Chipper Cash has processed 250,000 transactions for over 70,000 active users, according to Serunjogi.
The startup’s planned move to Southern Africa — home to the continent’s second-largest and most advanced economy of South Africa — will place the startup in all three corners of Africa’s triangle of leading digital finance markets.
1 Comment
Pingback: Visa and Chipper Cash Partner in African Expansion - Innovation Village