Fintech Company Chipper Cash Secures USD 150 Mn Series C Extension

Chipper Cash, an African cross-border payments company, has secured USD 150 Mn in a Series C extension round valuing the company at USD 2 Bn. The round was led by Sam Bankman-Fried’s cryptocurrency exchange platform FTX. SVB Capital, and other previous investors such as Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, and Tribe Capital, reinvested in this extension round.

Chipper Cash offers a no-fee peer-to-peer cross-border payment service in Africa via its app. Its services are used across seven African countries Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya. The company’s strategy is to provide the best pricing while facilitating money transfers from Africa to the United States.