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Last year was a tough period for African growth-stage startups and 2024 presents a mixed bag
Last year presented a tough period for African tech startups. Venture capital was hard to bag (as predicted earlier), bridge and down rounds became the norm, and news of fire sales, layoffs and startup closures reverberated across the continent. With the overall amount of VC funding raised in Africa dipping significantly across the year, according…
Chipper Cash executes second round of layoffs less than three months after axing 12.5% of staff
African cross-border payments platform Chipper Cash conducted a second round of layoffs last Friday just 10 weeks after it cut approximately 12.5% of its workforce (affecting its engineering team the…
African fintech Chipper Cash saw its valuation slashed from $2 billion to $1.25 billion before FTX’s bankruptcy, according to documents shared by the Financial Times on Alameda’s venture capital portfolio.…
African fintech unicorn Chipper Cash lays off about 12.5% of staff
Chipper Cash, an African cross-border payments company valued at $2.2 billion last year, has laid off a portion of its workforce. Yesterday, a few affected and non-affected employees took to…
Daily Crunch: Did Bolt Mobility bolt? The startup left equipment and confused customers in its wake
Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.
Kenya directs all banks to stop dealing with Chipper Cash, Flutterwave, saying they are unlicensed
A day after Central Bank of Kenya (CBK), Kenya’s monetary authority, said that Chipper Cash and Flutterwave were not licensed to operate in the East African country, the regulator has…
Stitch raises $21M for its API infrastructure and embedded finance platform
Open finance continues to be a significant theme in the world of fintech as businesses tap APIs to access customers’ financial accounts and provide a gamut of integrated and embedded…
Chipper Cash gets $2B valuation with $150M extension round led by FTX
Chipper Cash, an African cross-border payments company, has raised $150 million in a Series C extension round led by Sam Bankman-Fried’s cryptocurrency exchange platform FTX. The investment comes barely six…
SVB-led $100M investment makes Chipper Cash Africa’s ‘most valuable startup’
Fintech in Africa is a goldmine. Investors are betting big on startups offering a plethora of services from payments and lending to neobanks, remittances and cross-border transfers, and rightfully so. Each…
Payments, lending and neobanks rule fintechs in emerging markets, report says
Tech investments in emerging markets have been in full swing over the past couple of years and their ecosystems have thrived as a result. Some of these markets like Africa,…
African fintech startup Chipper Cash raises $30M backed by Jeff Bezos
African cross-border fintech startup Chipper Cash has raised a $30 million Series B funding round led by Ribbit Capital with participation of Bezos Expeditions — the personal VC fund of Amazon…
African cross-border fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital and plans to hire 30 new staff globally. The raise caps an…
Visa has prioritized growth in Africa, and partnering with startups is central to its strategy. This became obvious in 2019 after the global financial services giant entered a series of…
Africa has one of the world’s fastest growing tech markets and Nigeria is becoming its unofficial capital. The West African nation is commonly associated with negative cliches around corruption and…
Catalyst Fund gets $15M from JP Morgan, UK Aid to back 30 EM fintech startups
The Catalyst Fund has gained $15 million in new support from JP Morgan and UK Aid and will back 30 fintech startups in Africa, Asia, and Latin America over the…
Payment startup Chipper Cash raises $6M for Southern Africa expansion
African cross-border fintech startup Chipper Cash has raised a $6 million seed round led by Deciens Capital. The San Francisco-based company offers mobile-based, no fee, P2P payment services in six…
Lessons from M-Pesa for Africa’s new VC-rich fintech startups
Over the least decade, Africa has been in the midst of a startup boom accompanied by big growth in VC and improvements in internet and mobile penetration.
Africa Roundup: CcHub’s iHub acquisition, Andela’s $50M run rate and layoffs, Transsion’s IPO
Two of Africa’s powerhouse tech incubators joined forces in September. Nigerian innovation center and seed-fund CcHub acquired Nairobi based iHub. The purchase amount was undisclosed, but CcHub will finance the deal…
Nigerian fintech startup Kuda — a digital-only retail bank — has raised $1.6 million in pre-seed funding. The Lagos and London-based company recently launched the beta version of its online…
SF-based African fintech startup Chipper Cash expands to Nigeria
The African no-fee, cross-border payment startup Chipper Cash has expanded to Nigeria. The San Francisco-based startup, with offices in Ghana and Kenya, will offer its P2P payment service and app in…
