Jeff Bezos-Backed ‘Chipper Cash’ Gets $2B Valuation With $150M Extension Round Led By FTX
An African cross-border payments company has raised $150 million in a Series C extension round led by Sam Bankman-Fried’s cryptocurrency exchange platform FTX.
Chipper Cash, founded in 2018 by Ham Serunjogi and Maijid Moujaled, is a no-fee peer-to-peer cross-border payment service in Africa.
Users can accept payments in Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya through their app.
Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, and Tribe Capital were some of the lead investors while new investors also participated, but they remain unnamed.
The company’s total Series C stands at $250 million, but its total funding to date is over $305 million, TechCrunch reported.
CEO Ham Serunjogi said: “Chipper Cash is offering remittances considerably cheaper than anyone else,” Serunjogi told TechCrunch.
“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,” he added.