Africa-focused, San-Francisco-based Fintech company Chipper Cash says that it has raised $13.8 million in new Series A funding. The funding round was led by Deciens Capital, a venture capital firm based in the United States.
The Lagos Times understands that Chipper Cash, which offers a suite of payment services across Africa, plans to use the funds for operational expenses and to fund the acquisition of new talent in Lagos, Nairobi, London and New York.
Chipper Cash’s latest fundraising brings its funding total to $22 million, an impressive figure for a relatively young company that was founded barely two years ago by two US-based African students, Ghanaian Maijid Moujaled and Ugandan Ham Serunjogi.
Chipper Cash has recently been gaining traction in several African hubs due to its free P2P payment services which allows users to easily transfer funds across the continent.