[NEWS] SF based African fintech startup Chipper Cash expands to Nigeria – Loganspace

The African no-price, harmful-border price startup Chipper Moneyhas expanded to Nigeria.

The San Francisco primarily based mostly startup, with offices in Ghana andKenya,will supply itsP2Pprice carrier and app in Africa’s most populous nation in partnership withPayStack—the cost gateway firm. Paystack CEOShola Akinladeconfirmed the collaboration.

Chipper Money will establishe a firm presence in Lagos and has employed a country supervisor,Abiodun Animashaun,co-founding father of Lagos-primarily based mostly plug-hail startup Gokada.

Animashaun isn’t any doubt one of two senior figures departing African tech ventures to affix Chipper Money.Alicia Levinewill leave Nairobi primarily based mostlycyber internet hardware and restore startup BRCKto change into Chipper Money’s Chief Running Officer, in accordance to Chipper Money CEO Ham Serunjogi.

The startup went reside in October 2018, becoming a member of a field of fintech startups aiming to scale digital finance purposes all the draw in which through Africa’s billion-plus population.

Chipper Money changed into as soon as co-based mostly by Serunjogi (from Uganda) and GhanaianMaijid Moujaled, each and every of whom emigrated to the U.S. to note and work in Silicon Valley.

The fintech firm now has bigger than 70,000 full of life customers and has processed 250,000 full of life transitions on its no-price, P2P, harmful-border cell-money payments product.

The startup additionally runs Chipper Checkout: a carrier provider-focused, price-primarily based mostlyC2Bcell payments product that supports its no-price cell money industry.

Chipper Checkout will earn its debut in Nigeria a lot of months after Chipper Money’s cell payments initiate, in accordance to Serunjogi.

The crucial to budge to Nigeria changed into as soon as rather straight-forward. “Nigeria is the most critical economy and most populous country in Africa. Its fintech trade isn’t any doubt one of the critical evolved in Africa, up there with Kenya and South Africa,” he acknowledged.

“I mediate for any firm doing fintech all the draw in which through borders, that is attempting to assign success in Africa, it’s crucial that you have got a presence in Nigeria.”

For some fintech startups, comparable to Chipper Money, locating in Nigeria isn’t any longer correct strategic for rising in Africa, but additionally to lend a hand world ambitions.

Chipper Money changed into as soon as no longer too long ago profiled in an ExtraCrunch characteristic as no doubt one of three African fintech startups — with targets to scale globally — that has co-located in San Francisco with operations in Africa. The play is to faucet the most straight forward of each and every worlds in VC, developers, and the frontier of digital finance.

Toward that end, Chipper Money raised a $2.4 million seed round led by Deciens Capitalthis Might additionally just.

The payments firm additionally persuaded 500 Startups and Liquid 2 Ventures— co-based mostly by American football myth Joe Montana — to affix the round.

Per stats supplied byBriter Bridges and a 2018 WeeTracker watch, fintech now receives the bulk of VC capital and deal-float to African startups.

A series of estimates level to the continent’s 1.2 billion americans listthe most critical section of the field’s unbanked and underbanked population.

To boot to creating better monetary inclusion on the continent, African fintech products and solutions have additionally came all the draw in which through traction internationally.Safaricom(M-Pesa), Flutterwave, Paystack,Paga, Mines, and Chipper Money are among companies that supply or opinion to present their products in areas comparable to Asia, Europe, and Latin The usa.