Companies
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Chipper Cash
Fintech
Chipper Cash is a pan-African fintech company offering free, cross-border mobile money transfers and financial services across multiple African countries.
$334M
+$4.96
470.79%
30 days ago
$1.05
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Chipper Cash was founded in 2018 by Ham Serunjogi and Maijid Moujaled, Ugandan and Ghanaian entrepreneurs respectively, who set out to address the high cost and friction involved in sending money across borders within Africa, where mobile money services had become widely adopted within individual countries but sending money between different African countries typically still required expensive traditional remittance services or bank transfers, despite growing economic ties and diaspora populations spanning multiple African nations. Chipper Cash's core product is a mobile app that lets users send money to other Chipper Cash users across supported African countries typically without transfer fees, monetizing instead primarily through foreign exchange spreads and other financial services built on top of its payment network. The company expanded from its original peer-to-peer cross-border transfer product into a broader suite of financial services, including cryptocurrency trading, stock trading giving African users access to U.S. equity markets, and merchant payment processing for businesses, positioning itself as a broader financial "super app" for markets that have historically had a large unbanked or underbanked population but very high mobile phone penetration, a combination that has made mobile-first financial services particularly impactful across much of Sub-Saharan Africa. Chipper Cash has operated across a number of African markets including Uganda, Ghana, Nigeria, Kenya, Rwanda, and Tanzania, and has also expanded into offering U.K. and other international remittance corridors connecting the African diaspora abroad with recipients on the continent. The company reached unicorn status and raised very substantial venture funding from investors including SVB Capital, Ribbit Capital, and FTX Ventures (an investment that became complicated following FTX's 2022 collapse), positioning Chipper Cash among the larger pan-African fintech companies by funding raised alongside competitors such as Flutterwave and various country-specific mobile money providers.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
