Fintech Remains the Most Funded Sector in Africa’s Startup Ecosystem and Bezos Wants In

Chipper Cash, a cross-border, peer-to-peer payment service, further substantiated this with yet another huge investment. The fintech startup, which was founded by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled in 2018, closed a $100 million Series C round this week which it will use to introduce more products and grow its team. This latest infusion brings investments in the company over the last year to $143.8 million, reportedly making it Africa’s sixth unicorn. This is in addition to the $8.4 million raised in two seed rounds in 2019. The company’s Series A and Series B rounds last year raised $13.8 million and $30 million respectively, with the latter notable for being led by Ribbit Capital with participation from Bezos Expeditions, Jeff Bezos’s personal venture capital fund.

SOURCE: QUARTZ AFRICA