Chipper Cash is a technology company.
Chipper Cash has raised $302.0M across 6 funding rounds.
Chipper Cash has raised $302.0M in total across 6 funding rounds.
Chipper Cash has raised $302.0M in total across 6 funding rounds.
Chipper Cash's investors include Deciens Capital, Saga, Andreessen Horowitz, Better Tomorrow Ventures, Humba Ventures, One Way Ventures, TEN13, Fanny Surjana, Louis Beryl.
Chipper Cash is a fintech company building a mobile app that enables fee-free cross-border payments, virtual cards, stock investing, crypto trading, bill payments, and airtime top-ups primarily for individuals and businesses in Africa.[1][3][5] It serves over 5 million users across countries like Nigeria, Ghana, Rwanda, Uganda, and the US, solving high-cost, slow remittances and limited financial access in regions with unreliable infrastructure.[3][5][6] The platform's growth stems from organic adoption, with expansions into Bitcoin Lightning Network for instant transactions (now over 50% of its Bitcoin volume) and partnerships like Visa and Stellar for global reach.[2][4]
Chipper Cash was founded in 2018 by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled, both with tech and finance backgrounds, starting as a peer-to-peer remittance app to address expensive cross-border money transfers between African mobile money platforms.[2][4][5] The idea emerged from personal frustrations with legacy systems' delays and fees, quickly gaining traction through word-of-mouth in underserved markets.[2][5] Pivotal moments include a $13.8 million Series A in 2020 from Deciens Capital, regulatory licenses as a full fintech provider, and product expansions like virtual cards and crypto, fueling growth to millions of users.[2][3][5]
Chipper Cash rides the fintech boom in Africa, where 400M+ unbanked adults and $50B+ annual remittances face legacy barriers like outages and high fees, timing perfectly with mobile penetration and crypto adoption.[2][5][7] Market forces like regulatory openings and Bitcoin Lightning's scalability favor its model, enabling hyper-local commerce (480K+ merchants) and global access (US/UK expansion).[2][5][6][7] It influences the ecosystem by accelerating interconnected trade, empowering small businesses/creators with dollar rails, and proving scalable alternatives to incumbents like OPay or Flutterwave.[1][2]
Chipper Cash is poised to dominate African fintech by deepening Lightning/crypto integration, expanding to more countries, and scaling B2B offerings like Chessa amid rising stablecoin use.[2][6] Trends like AI-driven personalization, regulatory harmonization, and Web3 remittances will propel it, potentially evolving into a full neobank influencing pan-African economic unity. As it "chips away" at borders, Chipper remains the go-to for unlocking Africa's global financial potential.[5][7]
Chipper Cash has raised $302.0M across 6 funding rounds. Most recently, it raised $150.0M Series C in October 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2021 | $150.0M Series C | Deciens Capital, Saga | |
| May 1, 2021 | $100.0M Series C | Andreessen Horowitz, Better Tomorrow Ventures, Deciens Capital, Humba Ventures, One Way Ventures, Saga, TEN13, Fanny Surjana, Louis Beryl | |
| Nov 1, 2020 | $30.0M Series B | Better Tomorrow Ventures, Deciens Capital, Humba Ventures, Saga, Fanny Surjana | |
| Jun 1, 2020 | $14.0M Series A | Andreessen Horowitz, Better Tomorrow Ventures, Deciens Capital, Humba Ventures, Saga, Fanny Surjana | |
| Dec 1, 2019 | $6.0M Seed | Better Tomorrow Ventures, Deciens Capital, Humba Ventures, Saga, Fanny Surjana | |
| May 1, 2019 | $2.0M Seed | Better Tomorrow Ventures, Deciens Capital, Humba Ventures, One Way Ventures, Saga, Fanny Surjana |