Chipper Cash raises $100 million in Series C Round

A Ugandan/Ghanian- based fintech start-up is basking in the spotlight after the success of its Series C Round.

A photo of Chipper Cash Co-Founders, Ham Serunjogi and Maijid Moujaled
Co-Founders of Chipper Cash, Ham Serunjogi, and Maijid Moujaled

Chipper Cash is a fintech start-up that was founded by Ham Serunjogi and Maijid Moujaled in 2018 in order to facilitate cross-border payments within the African continent.

The company conducted a Series C Round that involved Silicon Valley Bank, Bezoz Expeditions, Tribe Capital, Deciens Capital amongst others. At the end of the Series C Round, Chipper Cash had made $100 million.

Chipper Cash’s P2P digital payment services are available in Nigeria, South Africa, Rwanda, Ghana, Kenya, Tanzania, and Ghana. The fintech company has grown to have up to 4 million users on its platform, over $100 million in processed payments, nearly 80,000 transactions on a daily basis, and a $1 billion — $2 billion valuation.

Chipper Cash’s growth triggered the need for the company’s expansion to the United Kingdom in order to access a broader market that needs its unique product.

The company stated that the funds made from the Series C Round will be channeled toward creating more products and growing its workforce by 100 individuals.