Africa-focused fintech Chipper Cash nets $13.8m Series-A round


San Francisco based fintech startup Chipper Cash, which services several African markets, has closed a $13.8 million Series-A investment round.

US tech publication TechCrunch reported in an article today that the round was led by California-based Deciens Capital and added that the startup plans to hire 30 new staff globally.

The latest investment follows the announcement in December last year that the startup — founded in 2018 by Ghanaian Majid Moujaled and Ugandan Ham Serunjogi (pictured above, left and right, respectively) — had raised $6-million in seed capital in a round also led by Deciens Capital (see this story).

US based fintech startup Chipper Cash has now raised $22m since it was founded in 2018

TechCrunch said the startup has raised a total of $22-million in investment since inception and that its mobile-based, no fee, P2P payment services now operates in seven countries, namely Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya.

It quoted Serunjogi as saying that the startup now has over 1.5 million users and handles over $100-million across its platform per month.

The startup also revealed to TechCrunch that it had set up the Chipper Fund for Black Lives, which will award five to 10 grants of $5000 to $10 000 to African American applicants.

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