Africa-focused fintech Chipper Cash raises a further $6m


San Francisco based fintech startup Chipper Cash announced yesterday that it had raised a further $6-million, in a seed round led by California-based Deciens Capital.

The announcement was made in an article yesterday by US tech publication TechCrunch.

TechCrunch reported that the fintech — which was founded in January last year by Ghanaian Majid Moujaled and Ugandan Ham Serunjogi (pictured above, left and right, respectively) — plans to use the money raised to continue its expansion, including to Southern Africa next year.

The publication said the startup now has more than 600 000 active users and has processed more than 3 million transactions on its cross-border mobile-money payments platform.

Chipper Cash, which was founded by Majid Moujaled and Ham Serunjogi in January 2018, has raised $8.4m this year

The latest investment brings to $8.4-million that the startup has raised this year.

In May the startup announced that it had raised a $2.4-million seed round also led by Deciens Capital and planned to launch a merchant-focused consumer-to-business (C2B) mobile payments product (see this story).

Liquid 2 Ventures500 Startups and Liquid 2 Ventures are reported to have also participated in the round.

Chipper Cash’s earlier investors include One Way VenturesTransition Level Investments and Brue2 Ventures.

TechCrunch also reported yesterday that the startup expanded to Nigerian in September. It also operates in Ghana, Kenya, Rwanda, Tanzania and Uganda and outside the US has offices in Kenya and Ghana.

Read more: Chipper Cash CEO on why African startups aren’t launching the next Paypal

Featured image (left to right): Chipper Cash president and co-founder Majid Moujaled and CEO and co-founder Ham Serunjogi (Facebook)



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