An app lets customers in five African countries, US and UK, pay bills, transfer money across borders and buy bitcoin. By generating revenue from foreign exchange fees and brokerage commissions, Chippercash grew from approximately 2 million registered users in 2020 to more than 5 million by the end of 2021, with a third of its 350 employees in the United States of America.
Chipper Cash 280 million funding from Deciens Capital, FTX Ribbit Capital, and others. In 2020, revenue grew from $18 million to more than $75 million in 2021.
What is Meant by Chipper Cash?
Chipper Cash is a relatively new fintech startup that has just made headlines. Chipper cash is the specialty in facilitating cross-border payments, while some question the legitimacy of the operation. Major investors are convinced to start a business as a legitimate business in the financial arena.
According to the news, Chipper Cash offers a wide range of financial products and recently added cryptocurrency trading options along with business payment solutions. The company surveys the general public to learn which financial products have the highest value and add these products accordingly. They need to achieve customer satisfaction and attract more customers, so Chipper Cash 280 million is their recent funding.
Although the headquarters is located in San Francisco, California, Chipper Cash is categorized as an African fintech company. Chipper’s CEO is Ham Serunjogi, and he said the company serves African and other emerging markets. The latest product is cryptocurrency, and this is a product that is becoming more and more popular in Africa.
Chipper Cash is a well-funded company:
Any concerns about the legality of Chippercash have been suppressed by thorough scrutiny and high investor interest in the company. It has been confirmed as a legitimate fintech and funded by the world’s largest VC investors Just closed its Series C funding, which raised Chipper Cash 280 million in growth and expansion as per seriesokafortechcrunch.
Investors who put their trust in the company include Silicon Valley Bank’s SVB Capital, who led the round. Other participating investors include Ribbit Capital, Deciens Capital, and Jeff Bezos’s Bezos Expedition. Investor confidence in a return on their investment in Chipper Cash is high.
The two co-founders are responsible for launching Chipper Cash Ham Serunjogi from Uganda and Majid Moualed from Ghana. Both young men are natives of an African country that has chosen the United States to open a new business.
Is Chipper Cash only available to customers in Africa?
The fintech company has set up operations to serve countries. In Africa, so far, the offering has not been extended outside the region. The seven countries served by Chipper Cash are Kenya, South Africa, Tanzania, Nigeria, Rwanda, Uganda, and Ghana.
Chipper Cash offers free mobile P2P payments, and there are no software fees. This is only applicable to people residing in the seven African countries listed above. This is one of the benefits that attract a large number of users to use the service. Most other paid services charge a fee for use. This is another feature that sets Chipper Cash apart from others.
Chipper Cash is planning to expand:
Chipper Cash recently received several rounds of venture capital funding that allowed the company to expand its offering, so they prefer the Chipper Cash 280 million fundraisings. Strategic plans for adding products and moving to new geographic locations are part of the business expansion and expansion plan.
The CEO confirmed that Chipper Cash is in the process of developing additional business payment solutions. And there are plans to add investment services as an option, including cryptocurrency trading options. Due to current customer demand, it offers a service that allows its clients to invest in stocks and buy and sell Bitcoin from the new beta dropdowns found on the website and app.
Chipper Cash is a venture capital-backed enterprise that has reassured many large investors. So far, the company has raised 280 million in VC funding. The investment has been in a series of five closed rounds of funding. Most recently, on May 31, 2021, in the form of a Series C round, a total of 16 investors participated in the fundraising event. The Chipper Cash website is one of the most significant marketing tools available.