Chipper Cash is a company that facilitates cross-border payment across Africa. It has closed a $100 million Series C round to introduce more products and grow its team. The company closed a $13.8 million Series A round from Deciens Capital and other investors in June 2020.
SVB Capital, the investment arm of U.S. high-tech commercial bank Silicon Valley Bank led this Series C round. Others who participated in this round include existing investors — Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, 500 Startups, Tribe Capital and Brue2 Ventures.
In November 2020, the fintech startup raised $30 million Series B led by Ribbit Capital and Jeff Bezos fund Bezos Expeditions. Chipper Cash has gone through three rounds totaling $143.8 million in a year. This is separate from the $8.4 million raised in two seed rounds back in 2019. The seed rounds’ addition increases the number to $152.2 million.
Chipper Cash founded by Ham Serunjogi and Maijid Moujaled launched in 2018. The pair met after both came to the US for studies. The two have worked in blue chip companies like Facebook, Flickr and Yahoo before deciding to work on their own startup.
Chipper has more than 200 employees and plans to increase that number by 100 staff throughout the year. The number of users on Chipper Cash has increased to 4 million, up 33% from last year. And while the company averaged 80,000 transactions daily in November 2020 and processed $100 million in payments value in June 2020, it is unclear what those figures are now as Serunjogi declined to comment on them, including its revenues.
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