This is part 5 of an 11-part series.
Ranked as one of the startups to watch in 2021 by media like Techgist Africa, African Vibes and the influencer Alex Mitchell, Chipper Cash has delivered. As the business world slowly recovers from a two-year pandemic, the international money-transfer startup, founded in 2018 by Uganda’s Ham Serunjogi and Ghana’s Maijid Moujaled, has been steadily making headlines.
In May 2021, it raised $100m in a funding round led by SVB Capital, which “probably” made it “the most highly valued African start-up”, according to its CEO Ham Serunjogi, who did not reveal the amount of this valuation. Even if his statement left some sceptical, the $150m Series C round in November, this time led by FTX, the cryptocurrency exchange platform of the world’s youngest billionaire, Sam Bankman-Fried, proved the Ugandan CEO right, as Chipper’s valuation had by then reached $2bn.
There's more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
cancel anytime
Already a a subscriber Sign In
Also in this in Depth:
work hard, play hard
Nigeria’s billionaire Femi Otedola: Hot investor and cool dad Playing in the investment fiefdom that has come to be his forte over the years, Femi Otedola, the Nigerian billionaire and former owner and chairman of Forte Oil, an oil and gas marketing giant, has been in the news recently for acquiring equity in Transcorp Group, a Nigerian conglomerate with tentacles in hospitality, energy and power.sovereign ambitions
Morocco: ‘The private sector must take on two-thirds of investment,’ says Aziz Akhannouch Morocco’s new economic doctrine aims to strengthen the kingdom’s sovereignty, boost its energy ambitions, and increase the role of the private sector, says Prime Minister Aziz Akhannouch.‘cutting-edge’
AfDB aims to unlock hybrid capital potential to bridge financing gap The African Development Bank (AfDB) is introducing new hybrid capital instruments to help the continent bridge its financing gap, says Hassatou Diop N’Sele, the pan-African lender’s CFO and vice president of finance.