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FTX leads $150m Series C extension for Chipper Cash

FTX leads $150m Series C extension for Chipper Cash

African cross-border payments startup Chipper Cash has raised $150 million at a $2 billion valuation in a Series C extension round led by cryptocurrency exchange FTX.

SVB Capital, Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures and Tribe Capital joined the extension, which comes six months after a $100 million Series C.

Founded in San Francisco in 2018 by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled, Chipper Cash is a mobile app that lets people transfer money across borders, fast and cheaply.

Currently available in seven African countries - Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania and Uganda - as well as the UK, the startup claims to have four million users.

The firm is looking to expand to new countries and has recently introduced a crypto product and will soon let users invest in US stocks.

It has also begun offering remittances between the US and African countries and scored a deal with Twitter to power payments for the Tip Jar service.

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