Chipper Cash, a company that offers payment services across African countries, has raised $13.8 million Series A funding as it plans to expand its workforce across different geographies.
The funding round was co-led by Deciens Capital, a US based venture capital and private equity firm and Raptor Group. Other participating investors include 500 Startups and Liquid 2 Ventures.
The fresh capital would enable the fintech firm to recruit about thirty new talents for its operations in places like Lagos, Nairobi, London, New York, and San Francisco where the company is based.
The latest fundraising brings the total amount so far raised by the company to $22 million.This is happening barely two years after the payments company was established by two African students in the USA – Maijid Moujaled from Ghana and Ham Serunjogi from Uganda.
The cross-border app offers zero-fee, peer-to-peer payment services across seven African countries, including Nigeria, Kenya, South Africa and Ghana. The company says it now has over 1.5 million users and records transaction volume of over $100 million a month.
