Chipper Cash is the most valuable startup in Africa, said the CEO, Ham Serunjogi. The African cross border payment company raised $100 Million series C finding in May this year. This makes Ham Serunjogi, without declaring the company current valuation, said the startup is the most valuable fintech startup in Africa. Which sparked a lot of mixed reactions in the ecosystem.
Now Chipper Cash has announced extension of it’s series C and raised $150 Million at a valuation little over 2 billion. The Investment was led by FTX, the most world’s valuable crypto exchange company owned by the youngest billionaire in the World, Sam Bankman Fried.
With a valuation of over $2 billion, Chipper Cash has now attained a unicorn status. It joins the ranks of Nigeria’s Interswitch, Flutterwave and Opay, Egypt’s Fawry, Pan-African Andela, and Senegal’s Wave, as the seventh African unicorn.
The Fintech company was founded by Ham Serunjogi and Maijid Moujaled in 2018 with aim to offer free cross-border payment service in Africa via Chipper Cash app by using Cash tag to do the transactions.
Chipper Cash is available and operate in seven countries in Africa ( Nigeria, Kenya, Uganda, South Africa, Tanzania, Rwanda and Ghana). In May, after the first $100 Million series C round, the company expanded into United Kingdom to offer free peer-to-peer remittance from U.K to Africas.
Last month, the startup also entered the competitive U.S market and it’s reported to have started the U.S to Africa remittance in Nigeria and Uganda, with more countries to be added soon. The company also plans to start Africa to U.S remittance in South Africa, Uganda and Ghana next year.
Not only that, Early this year, Chipper Cash introduced social payment service by partnering with Twitter to offers payment for the social media platforms.