The funding puts the company’s valuation at $2B. Here are the top-line bullets you need to know.
Chipper Cash, a cross-border payments provider, has raised $100M in a Series C with participation from Bezos Expeditions, 500 Startups, and SVB Capital among others.
How’s the company performing?
- California-based Chipper Cash provides no-fee, mobile-based, peer-to-peer payment services across 8 countries – UK, Ghana, Uganda, Tanzania, Rwanda, Nigeria, South Africa, and Kenya.
- Other products in the company’s portfolio includes Chipper Checkout, a fee-based payment gateway for merchants. It also offers crypto products in Nigeria.
- Chipper Cash currently has 4M users, a 33% increase from 2020. As of November 2020, the company recorded a daily average of 80,000 transactions and 10,000 new users.
- The company processed $100M in payments as of June 2020 and has over 200 employees.
Why does the market matter?
- The fintech market is projected to grow at a CAGR of 22.2% to reach a value of $305B by 2025, according to Market Data Forecast.
- Global fintech adoption stands at 25% and provides an enormous opportunity for growth to service providers and first movers.
- The market is witnessing an increase in investment in recent years. Q1’21 saw funding hit a record $22B across 614 deals.