Pan-African fintech startup, Chipper Cash has raised a seed round of $2.4 million. The round which was led by Deciens Capital and joined by 500 Startups, as well as Liquid 2 Ventures, will provide funds for the company to launch a merchant-focused, C2B mobile payments product. It will also expand beyond its current operations in Ghana, Kenya, Rwanda, Tanzania and Uganda. Chipper Cash was launched in 2018 by Ham Serunjogi (Ugandan) and Maijid Moujaled (Ghanaian) has processed 250,000 transactions for more than 70,000 active users. The startup offers no-fee, P2P, cross-border mobile-money payments. Fintech startups continue to attract the bulk of the funding to African startups, for last year Partech reported that the sector got 50% of total funding.
