African Fintech Chipper Cash Raises $30m in Series B

​Chipper Cash, an African cross-border fintech startup, announced that it has raised $30m during its Series B funding, which was led by Ribbit Capital with participation of Bezos Expeditions — the personal VC fund of Amazon CEO Jeff Bezos.

The company is trying to expand its products and geographic scope by offering more business payment solutions, crypto-currency trading options, and investment services with the Series B raise.

The startup plans to offer more API payments solutions and use its Series B financing for additional country expansion, which the company will announce by the end of 2021.

CEO Ham Serunjogi said:”We'll always be a P2P financial transfer platform at our core. But we've had demand from our users to offer other value services like purchasing cryptocurrency assets and making investments in stocks. we'll launch the stock product in Nigeria first so Nigerians have the option to buy fractional stocks—Tesla shares, Apple shares or Amazon shares and others through our app. We'll expand into other countries thereafter.”

Chipper Cash  was founded in San Francisco in 2018 by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled. The company offers mobile-based, no fee, P2P payment services in seven countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya.