Chipper Cash raises $6 million seed round to expand into southern African markets

by | Dec 17, 2019

Chipper Cash, a mobile cross-border money transfer platform focused on African markets, has raised a seed round of $6 million.

Led by Deciens Capital, this is the second seed round raised by the San Francisco-based startup following the $2.4 million it raised back in May from 500 Startups and Liquid 2 Ventures.

Ham Serunjogi, CEO of the startup, confirmed this in a tweet.

The startup began operations in October 2018 with a value proposition of offering a no-fee cross-border P2P mobile payment service. Since that time, it has expanded into six countries — Ghana, Kenya, Rwanda, Uganda, Tanzania, and Nigeria.

Prior to its expansion into Nigeria in September, it was reported that startup had as many as 70,000 active users while processing over 250,000 transactions. Now, however, Serunjogi says the startup has more than 600,000 active users with 3 million transactions processed on the platform.

With presence in East and West African markets, the startup will use the new funds to expand into South African territory.

“Southern Africa is an area we’re looking to expand to in 2020,” Serunjogi told TechCrunch.

This will make the startup present in all three markets dominating digital finance in Africa with fintech startups in Nigeria, Kenya, and South Africa accounting for 65.2% of African fintech startups.

DON’T MISS OUT!
Techpoint Digest
A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!
Stay Updated
Give it a try, you can unsubscribe anytime. Privacy Policy.

Endlessly amused by technology. @ulonnaya

Techpoint Build 2021 is here! Be part of the largest gathering of innovators, startup founders, thinkers, programmers, policymakers, and investors in West Africa. Register free now.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Recent News

I wasn’t expecting this

I wasn’t expecting this

Today on #TechpointDigest, @OnomeOneyibo discusses #WorldFoodDay, PaySika’s $350 pre-seed, and several other things tech.

DON’T MISS OUT!
Techpoint Digest
A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!
Stay Updated
Give it a try, you can unsubscribe anytime. Privacy Policy.
close-link

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap