Based in San Francisco but serving several African markets, Chipper Cash just closed an impressive $13.8 million in Serie A investment. The development was reported by USA-based TechCrunch which disclosed that the round was led by Deciens Capital also revealing their intention to hire 30 staff globally. Last year in December they were able to raise $6 million from seed capital. Chipper Cash was founded in 2018 by Ugandan Ham Serunjogi and Ghanaian Majid Moujaled.
According to the publication by TechCrunch, the startup has cumulatively raised $22 million since its inception. The services on offer are mobile-based and charge no fee. P2P payment services now run in seven different countries namely, Uganda, Tanzania, Ghana, Kenya, South Africa, and Rwanda.
Serunjogi claimed to have over 1.5 million users and the platform handles over $100 million in transactions every month. They also disclosed their reason for setting up the Chipper Fund for Black Lives where they will award 10 grants worth $5000 and $10000 to applicants of African American descent.