Remittance platform Chipper Cash has reportedly collected $100m in its Series C funding round.
The round was led by Silicon Valley Bank, with commitments also coming from previous backers Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, 500 Startups, Tribe Capital and Brue2 Ventures, according to a report from The Paypers.
With the capital injection, the company hopes to release new products and grow the size of the team.
Founded in 2018, the company offers mobile-based P2P payments and a merchant-focused fee-based payment product called Chipper Checkout.
Users can send money to countries across Africa, including Kenya, Nigeria, Ghana, Rwanda, Tanzania, Uganda and South Africa. It also lets users send money to and from the UK. The FinTech hopes to become available in more countries soon.
Chipper Cash previously raised $30m in a funding round, which was led by Jeff Bezos’ private VC fund Bezos Expeditions. The funding round came only months after closing its Series A on $13.8m.
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