Fintech companies remain the most funded startups in Africa. This past week Chipper Cash, a cross-border, peer-to-peer payment service, founded by Ham Serunjogi and Maijid Moujaled in 2018, closed a $100 million Series C led by SVB Capital, the investment arm of Silicon Valley Bank. This now gives ChipperCash an estimated valuation between 1 and 2 billion dollars, officially making it Africa’s 6th unicorn. Notable participants in this Series C round include Deciens Capital, Ribbit Capital and Jeff Bezos’s Bezos Expedition.
The company operates in Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa Kenya, and now the UK, their first expansion outside of the African continent.