Chipper Cash, 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.
The investment comes barely six months after Chipper Cash closed its first Series C round of $100 million, led by SVB Capital, the corporate venture capital arm of SVB Financial Group.
The company’s total Series C stands at $250 million but its total funding to date is over $305 million. This extension round takes its valuation slightly above $2 billion.
Serunjogi founded Chipper Cash with Maijid Moujaled in 2018 to offer a no-fee peer-to-peer cross-border payment service in Africa via its app, used across seven African countries.
This year, the company began to make strides outside the continent, expanding to the U.K. in May and, last month, venturing into the U.S. to Africa remittance corridor with over four million users.
Chipper Cash has also been busy tapping into the world of social payments, being picked to offer Twitter’s Tip Jar feature to African creators through its payments link.
