The payments startup intends to use this fund to expand its operations down the southern part of Africa. Chipper Cash, which has its headquarters in San Francisco, is a mobile-based, no fee, P2P payments service.
Currently, it is serving about 6 countries in Africa: Ghana, Kenya, Nigeria, Rwanda, Tanzania, and Uganda.
The countries in southern Africa to receive Chipper Cash’s service haven’t been revealed yet. “Southern Africa is an area we’re looking to expand to in 2020,” said the CEO Ham Serunjogi.
Back in May, the payments startup was able to convince American Football legend, Joe Montana, to invest $2.4 million seed-round in it.