Cross-border fintech startup Chipper Cash has closed a $13.8 million Series A funding round. The round was led by Deciens Capital.
Chipper Cash, which was founded two years ago by Ugandand Ham Serunjogi and Ghanaian Maijid Moujaled has so far raised $22 million in total and is currently in seven countries in Africa including Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya.
Deciens Capital founder Dan Kimmerling confirmed the fund’s lead on the investment and review of Chipper Cash’s payment value and volume metrics.
The company will use its latest round to hire up to 30 people across operations in San Francisco, Lagos, London, Nairobi, and New York — according to Serunjogi.
Chipper Cash has already brought on a new compliance officer, Lisa Dawson, whose background includes stints with the U.S. Department of Treasury’s Financial Crimes Enforcement Network and Citigroup’s anti-money laundering department.
“You know in the world we live in the AML side is very important so it’s an area that we want to invest in from the get go,” said Serunjogi.
He confirmed Dawson’s role aligned with getting Chipper Cash ready to meet regulatory requirements for new markets, but declined to name specific countries.
Source: TechCrunch
