African fintech company raises $100m - Punch Newspapers

Chipper Cash, a fintech startup that facilitates cross-border payment across Africa, has raised $100m in a Series C round.

SVB Capital, the investment arm of US high-tech commercial bank Silicon Valley Bank led the capital raising, TechCrunch reported on Monday. Other investors in this round include existing investors — Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, 500 Startups, Tribe Capital, and Brue2 Ventures.

The Chief Executive Officer, Chipper Cash, Ham Serunjogi, was quoted as saying, “We’re not commenting on the size of our valuation publicly. One of the things that I’ve been quite keen on internally and externally is that the valuation of our company has not been a focus for us. It’s not a goal we’re aspiring to achieve.Chipper Cash is currently valued between $1-2 bn. The company started three years ago. It raised a $13.8m Series A round from Deciens Capital and other investors in June 2020.

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