Without doubts, the African Fintech industry is growing at a very fast pace with lots of venture capitalists pushing funds into the industry. The African cross-border payment platform chipper cash recently got a series A funding of $13.8 million led by Deciens Capital and Raptor Group.
Chipper cash has been on the funding momentum for a while and has raised a total of $22 million since it started operation two years ago. The fintech startup is co-owned by two Africans, Maijid Moujaled from Ghana and Ham Serunjogi from Uganda.
The Fintech startup offers P2P payment service without any fee which is one of it’s unique selling point, coming in new to the industry it had to struggle for market share with top guns in the fintech industry like Paga, Paystack and the likes.
According to Ham Serunjogi, one of the co-owners “we are now at over one and a half million users and doing over $100 million a month in volume”. This shows how fast the Fintech startup is growing with a lot of potentials.
Venture capitalists are now looking into the African fintech space with recent large volume funding in the industry. There has been an estimated number of $2 billion in venture capital for African fintech with a large percentage going to Nigeria.