Chipper Cash, the firm that allows cross-border funds transfer in Africa is now valued at USD 2 billion, making it a unicorn.
The company has also raised $150 million in a Series C extension drive.
The round was led by crypto exchange platform, FTX.
We say extension round because a couple of months ago, Chipper Cash raised USD 100 million in a Series C drive. The fundraising was led by SVB Capital.
SVB Capital is also part of the extension round along other investors including Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, and Tribe Capital. According to Techcrunch, there are other new investors, but they have not been
To this end, Chipper Cash has managed to raise USD 250 million in Series C.
Overall, the company has gathered USD 305 million in funding.
The unicorn status was announced by the firm’s CEO Ham Serungoji, who calls it the ‘most valuable private startup in Africa.
Chipper Cash was started in 2018. Kenya operations launched in 2019, and the company has since expanded to Uganda, Tanzania, Ghana, Rwanda, and SA. It has since gone past the African border to the UK. Now members of the Kingdom can send cash to supported markets.
Chipper is also in the US, after the competitive market in October 2021. Outflow services, including sending money to the US via the platform will first launch for users in Kenya, SA, and Uganda.
It is also the same firm that will allow creators on Twitter to receive tips from their fans, including in Kenya.
The platform has more than 4 million users.