African Cross-border Payment Platform
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Chipper Cash Mulls Sale or New Investors After Receiving $250 million Financing from Silicon Valley Bank and FTX
It is reported that the source revealed that the African cross-border payment platform Chipper Cash, supported by the Silicon Valley Bank (SVB) and the Cryptocurrency Exchange FTX, is weighing various options, including exploring the sale or finding new investors. Chipper Cash received a US $250 million financing led by FTX and SVB in 2021. FTX invested a total of US $40 million in it, and SVB owned 2% of its equity. At that time, its valuation was about US $2 billion. (Bloomberg) Chipper Cash is considering selling and has been invested by Silicon Valley Bank and FTX Analysis based on this information:African cross-border payment platform, Chipper Cash, is considering various options following the $250 million financing it received earlier this year from cryptocurrency exchange, FTX, and Silicon Valley Bank (SVB). The company is exploring the possibility of finding new investors or selling the firm. Chipper Cash has been expanding its reach in the African continent’s online payment industry, by enabling…
