MFS Africa acquires Nigeria’s Baxi

Chipper Cash, renowned as one of Africa’s largest financial technology firms, recently finalized a Series C extension funding round having raised US$150 million, a Techcrunch post has stated.

Based on details outlined in the post, this most recent funding round was led by Sam Bankman-Fried’s FTX and comes only six months after the fintech startup Chipper Cash completed a US$100 million first Series C funding round.

In addition to FTX, other backers who made commitments towards Chipper Cash’s financing effort include SVB Capital, the firm that led the first Series C. returning investors include Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, and Tribe Capital.

The round attracted commitments from new investors, but the firm has decided to keep them anonymous for the time being. It also reveals that following the $150 million, Chipper Cash has now raised over $305 million. The firm is now valued at over $2 billion.

Launched in 2018 by Ham Serunjogi, the current CEO, and Maijid Moujaled, the fintech provides peer-to-peer cross-border payments. Chipper Cash services are currently used in seven African countries, including Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania, and Uganda.