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.

Chipper Cash‘s investment comes barely six months after it closed its first Series C round of $100 million, led by SVB Capital, the corporate venture capital arm of SVB Financial Group.

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.

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Abbianca Makoni

Abbianca Makoni is a content executive and writer at POCIT! She has years of experience reporting on critical issues affecting diverse communities around the globe.

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