Chipper Cash raises $150m in series C extension, valued at $2bn

African cross-border payments company, Chipper Cash, has secured $150 million in a Series C extension round, bringing its value to $2billion.

Ham Serunjogi and Maijid Moujaled founded Chipper Cash in 2018 to provide a no-fee peer-to-peer cross-border payment service in Africa via their app. Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya are among the countries that use its services.

The round was led by Sam Bankman-Fried’s cryptocurrency exchange platform FTX. SVB Capital, as well as other previous investors such as Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, and Tribe Capital, reinvested in this extension round.

This comes six months after the company raised $100 million in its first Series C round. The company’s entire Series C capital is $250 million, but it has raised more than $305 million to date.