Chipper Cash
“Can a P2P remittance app become the cross-border financial OS for Africa — moving money, cards, and investing on a single rails layer?”
Founded2018
HQSan Francisco, California, USA
FoundersHam Serunjogi, Maijid Moujaled
Total raised$337.2M
Latest roundSeries C, 2021 (extension Dec 2022)
Valuation~$2B (Series C, 2021)
IndustryFintech / Cross-border payments
The story
Chipper Cash started in 2018 as a fee-free P2P cross-border money transfer app for Africa. It has gradually layered on adjacent products — a virtual Visa card, US stock investing, airtime/bill pay, and a business/enterprise API (Chipper Network API, Chipper Checkout) for collections and disbursements. Following the 2022 FTX-related valuation reset and layoffs, the company refocused on its core remittance and card business and on monetizing through B2B (Chipper for Business) and a Bridge-powered USD card program.
Product timeline
2018
Founded by Ham Serunjogi and Maijid Moujaled to enable fee-free P2P cross-border money transfers across Africa.· pivot
2020
Raised $13.8M Series A led by Deciens Capital; expanded P2P payments product.· banking
2021
Launched Chipper Card (virtual Visa) and US investing product (stocks); raised $100M Series C.· card
2022
Series C extension announced ($100M); expanded into business / enterprise payments and Network API.· lending
2025
Partnered with Bridge to build modernized USD card program for African users.· card
Regulated entities
Money transmitter / payment licenses (various African jurisdictions)
Nigeria, Ghana, Uganda, Rwanda, South Africa
Chipper subsidiaries of Critical Ideas, Inc.
UK entity
UK
Chipper Technologies (UK) LTD
The stack
Payments / PSP
Banking / BaaS
Card issuing
FX & payouts
Crypto
Accounting gap: minor