An Africa-based fintech startup, Chipper Cash has secured $30 million through its Series B investment round, which was led by Ribbit Capital with participation from Jeff Bezos’ personal VC fund, Bezos Expeditions. This investment round comes less than six months after Chipper Cash raised $13.8 million through its Series A funding round, which was led by Deciens Capital.
Chipper Cash describes itself as a venture-capital company that builds software to enable free and instant Peer-to-peer Cross-border payments in Africa. The company is the first platform of its type to offer instant cross-border mobile money transfers in Africa. It is as easy as sending a text message. Users may use Chipper Cash to send and receive money to and from anyone in the fintech’s coverage area for no charge. The company noted it does not charge any fees at all and there is no minimum amount so the users may send any amount.
Users may also connect several mobile money accounts to their Chipper wallet and use any of them to add money to their Chipper wallet or to remove money from their Chipper wallet back to any of their mobile money account.