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Amazon’s Jeff Bezos Co-invests $30 Million in Chipper Cash, Founded by Uganda’s Ham and Ghana’s Maijid

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Amazon’s Jeff Bezos Co-invests $30 Million in Chipper Cash, Founded by Uganda’s Ham and Ghana’s Maijid

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It is raining capital in African fintech. Chipper Cash, founded by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled has raised $30 million funding led by Ribbit Capital with participation of Bezos Expeditions — the personal VC fund of Amazon CEO Jeff Bezos. Chipper Cash  was founded in San Francisco in 2018 and offers mobile-based, no fee, P2P payment services in seven countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya, TechCrunch reports.

Parallel to its P2P app, the startup also runs Chipper Checkout — a merchant-focused, fee-based payment product that generates the revenue to support Chipper Cash’s free mobile-money business. The company has scaled to 3 million users on its platform and processes an average of 80,000 transactions daily. In June 2020, Chipper Cash reached a monthly payments value of $100 million, according to CEO Ham Serunjogi

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