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In Brief: African Cross-border FinTech Startup Chipper Cash Raises US$13.8M

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Funding

In Brief: African Cross-border FinTech Startup Chipper Cash Raises US$13.8M

Chipper Cash, an African cross-border FinTech startup has secured US$13.8 million in a Series A round led by Deciens Capital.

The San Francisco-based company offers mobile-based, P2P payment services across seven countries in Africa.

Founded in 2018 by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled, Chipper Cash provides free, interoperable payments in and between Ghana, Kenya, Uganda, Tanzania, Rwanda, Nigeria and South Africa by allowing customers to link their mobile money accounts to Chipper and make P2P transfers via its mobile app.

Read: SA Solar Startup The Sun Exchange Raises US$3M

Chipper Cash will use the capital to hire 30 new staff in San Francisco, Lagos, London, Nairobi and New York according to a report on TechCrunch.  Chipper has a half million users and doing over a US$100 million dollars a month in volume.

In 2019, the company secured a total of US$8.4 million funding in two rounds led with the participation of Deciens Capital, 500 Startups and Liquid 2 Ventures.  The current funding round brings its total funding to US$22 million.

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