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Finance Platform Backed by Amazon’s Jeff Bezos Launching Crypto Trading Services in Africa

November 23, 2020

Chipper Cash, a fintech startup, is expanding its products to include crypto trading services in Africa after raising $30 million worth of funds and getting the support of billionaire entrepreneur and venture capitalist Jeff Bezos.

In a tweet, Chipper Cash co-founder and CEO Ham Serunjogi reveals a successful series B round of funding that witnessed the participation of venture capital firm Bezos Expeditions.

“I’m thrilled to announce our $30M Series B round – but particularly excited to have Ribbit Capital and Jeff Bezos join us on this journey as we continue executing on our vision for Chipper Cash app.”

Speaking to TechCrunch, Serunjogi says the startup is poised to expand its product offerings to cryptocurrency investment and trading services.

“We’ll always be a P2P (peer-to-peer) financial transfer platform at our core. But we’ve had demand from our users to offer other value services… like purchasing cryptocurrency assets and making investments in stocks.”

Chipper Cash is currently implementing beta dropdowns to its website and app that enable users to buy and sell Bitcoin. According to fintech startup’s website, users can buy Bitcoin for as low as 380 Nigerian naira, 16 South African rand, or 3,500 Ugandan shilling.

Founded in 2018 by Ham Serunjogi and Maijid Moujaled, Chipper Cash currently operates P2P payment services in seven countries across Africa. In addition, the startup runs Chipper Checkout, which allows local and cross-border consumer-to-business payments.

The company processes 80,000 daily transactions worth $100 million per month from three million users.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.