Chipper Cash is an app that provides its clients with the opportunity to make no-fee cross-border payments in Africa. The service is already used in Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya.
The funding round Series C was led by SVB Capital. Along with them, such investors as Designs Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, and Tribe Capital took part in the round. The sector to which Chipper Cash belongs has produces the greatest number of unicorns in Africa. Chipper Cash is the most valuable start-up in Africa.
Chipper Cash, headquartered in San-Francisco, was founded by Ham Serunjogi and Maijid Moujaled in 2018. The company has already had 4 million users, with 80 000 transactions per day. Recently the company began its expansion outside Africa, and in May started its work in the UK and later in the USA. The Chipper Cash provides its users with the best possible prices taking into account the expensive process of sending money to sub-Saharan Africa. “More important to that is that we are now the first ones that I know honestly to be able to support Africa to the U.S. in terms of sending money.”, says Ham Serunjogi.