Chipper Cash Closes $13.8 million in Series-A Round
San Francisco based fintech startup Chipper Cash, used in processing cross-border transactions within Africa has closed a $13.8 million Series-A investment round.
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TechCrunch reported that the round was led by California-based Deciens Capital adding that the startup plans to hire 30 new staff globally.
The most recent investment was in December last year when the startup raised $6 million in seed capital in a round led by Deciens Capital.
Since its inception in 2018, the US based fintech startup Chipper Cash has raised $22m in total.
Read Also: Research Shows Nigerians Trade More On P2P Cryptocurrency Exchanges Accounting For Over 50 Percent Bitcoin Trading Volume In Africa.
The mobile app fee-free cross-border payment service provider now operates in seven countries including; Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya.
According to Serunjogi as reported on Techcrunch, the startup now has over 1.5 million users and handles over $100 million across its platform per month.
The app founded in 2018 by two vibrant entrepreneurs in Africa, Ghanaian Majid Moujaled and Ugandan Ham Serunjogi is currently in use as a payment method on most Bitcoin p2p markets like localcryptos and paxful.
Read Also: Beginners Guide to P2P on Binance: How to Trade on Binance P2P and Make Profit.
Chipper Cash is popular used for bitcoin P2P payment in Kenya because of a number of reasons:
- No fees charge on local and cross-border transactions.
- No risk of chargeback or payment reversals carried by other payment channels.
- Can easily be used to deposit and withdraw funds via mobile money.
The bitcoin p2p provider is widely used across Kenya and Ghana for sending and requesting funds between family and friends safely.