Chipper Cash has raised $302.6M in funding to date. Here are the top-line bullets you need to know.
Chipper Cash, an African cross-border payments company, has raised $150M in an extended Series C round that drew participation from FTX, Ribbit Capital, SVB Capital, Deciens Capital, and Bezos Expeditions, among others.
How’s the company performing?
- California-based Chipper Cash provides free peer-to-peer payment services across 9 countries: the US, the UK, Ghana, Uganda, Tanzania, Rwanda, Nigeria, South Africa, and Kenya.
- The company recently ventured into the UK and US markets in order to enable the sending of money from both locations to Africa.
- Chipper Cash has 4M users, and it sees 80K transactions and 40K new users daily.
- Chipper Cash integrates with Tip Jar — a social payments gateway on Twitter that allows creators to receive money on the platform.
Source: Chipper Cash
Why does the market matter?
- The global market for fintech is projected to grow at a CAGR of 23.4% to reach a value of $324B by 2026, according to Market Data Forecast.
- The global fintech adoption rate stands at 25%, signaling the presence of growth opportunities for providers and first movers.
- The Covid-19 pandemic has driven demand for cashless transactions and increased the adoption of digital payment solutions and online payment gateways.
- The fintech market has seen a funding boom in recent years. Over the first 3 quarters of 2021, fintech startups saw $91.5B across 3,514 VC deals.