FTX Leads $150M Funding Round in African Payments Firm Chipper Cash: Report

Cross-border payments firm Chipper Cash has raised $150 million in a Series C extension round led by crypto exchange FTX, according to a report from TechCrunch.

  • The latest raise, which TechCrunch said values the African firm at slightly over $2 billion, comes after Chipper raised $100 million in May in a Series C round led by SVB Capital.
  • Investors from the May funding who also participated in the extension round included SVB Capital, Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures and Tribe Capital, according to TechCrunch. The identity of new investors was not immediately known.
  • Chipper Cash was founded in 2018 as way of providing no-fee, peer-to-peer cross-border payment services for Africans. Its services are used across Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya, and recently expanded to provide people in the U.K. and the U.S. with the ability to send money to Chipper’s African markets.

Source: Coin Desk

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