Yellow Card Financial, a Pan African cryptocurrency exchange, closed a $40M Series B funding.
The round was led by Polychain Capital, with participation from Valar Ventures, Third Prime Ventures, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, The Raba Partnership, Jon Weiner, Alex Wilson, Pat Duffy, and more.
The company intends to use the funds to drive business growth, continue its expansion across the continent, develop new product innovations, and advance strategic partnerships across Africa.
Led by Chris Maurice, CEO and co-founder, Yellow Card has launched in Nigeria in 2019 to make Bitcoin, Ethereum, Stablecoins, and other cryptocurrencies accessible to anyone in Africa. In August 2021, the company announced its Series A fundraise of $15M. Since then the team has achieved significant milestones including:
- Growing from 12 to 16 countries, launched in: Gabon, Senegal, Rwanda, and the Democratic Republic of the Congo;
- Making significant hires: Alice Tomdio, Chief Financial Officer; Craig Stoehr, General Counsel and Micha Katz, Chief Information Security Officer;
- Granting stock options to every full-time employee;
- Launching Yellow Pay, a crypto-powered way to send value across borders;
- Surpassing 1 million customers in March.
FinSMEs
19/09/2022