Chipper Cash, an African-focused fintech startup, has raised a $13.8 million Series A funding round co-led by Deciens Capital and Raptor Group.
The funding round was joined by 500 Startups and Liquid 2 Ventures. Interestingly, all the investors are returning or repeat investors.
Chipper Cash founded in San Francisco, by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled. is a Pan-African money transfer service for local and international money transfers. The fintech startups help users send and receive money in Ghana, Kenya, Nigeria, Uganda, Rwanda, South Africa, and Tanzania.
The startup has now raised around $22 million and plans to employ 30 new staff cross operations in San Francisco, Lagos, London, Nairobi, and New York with the new investment.
Additionally, Ham Serunjogi, CEO and Cofounder of Chipper Cash disclosed that the startup now has over one and a half million users and processing more than $100 million payment volume.
Alongside the investment round, Chipper Cash also announced that it is setting up the Chipper Fund for Black Lives.
“We’ve been huge beneficiaries of the generosity and openness of this country and its entrepreneurial spirit,” Serunjogi emphasised.
“But growing up in Africa, we’ve been able to navigate [the U.S.] without the traumas and baggage our African American friends have gone through living in America.”
The Chipper Fund for Black Lives will give 5 to 10 grants of $5,000 to $10,000 which would be given to people or causes who are promoting social justice reforms.