Chipper Cash, a cross-border remittance and P2P payments firm has raised $6 million seed round led by Deciens Capital to expand into Southern Africa after its recent expansion into Nigeria, reports TechCrunch.
Chipper Cash operates in Kenya, Uganda, Tanzania, Rwanda, Ghana and Nigeria, and this latest expansion into Southern Africa aims to help it achieve its pan-African reach. Boston based Raptor Group participated in the round.
After raising $2.4 million in May 2019 from 500 Startups and Liquid 2 Ventures, the firm expanded into Nigeria with its free and instant Peer-to-peer cross-border mobile payment solutions.
Founded Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled, Chipper offers free P2P mobile money services unlike other mobile money providers. The firm also aggregates several mobile money wallets and bank accounts onto its platform allowing customers to enjoy its super wallet status.
“Chipper is going continental. We are adding more African countries in 2019 and hope to cover the continent in some few years. This way, we will be contributing to connecting our African nations in terms of trade and financial transactions/ financial harmonization,” announced the company.
With over 600,000 active users and over 3 million transactions processed on its platform, Chipper Cash aims to be Africa’s biggest payments platform with its merchant focused platform Chipper CheckOut and its P2P service Chipper Cash.
In June, Catalyst Fund, which invests in early-stage ventures working in the financial inclusion sector in emerging markets invested $50,000 in Chipper Cash.