Chipper Cash celebrates 3 years of breaking cross-border money transfer barriers

Chipper Cash, Africa’s leading cross-border and payments app available on PlayStore and App Store, is celebrating three years in business today.

A story that began in Iowa, through the Silicon Valley, is right on course to revolutionizing mobile payments in the Sub-Saharan Africa.

The company was founded and launched in October 2018 by Ugandan Ham Serunjogi and his Ghanaian countrpart Maijid Moujaled, to beat the blocks associated with exchanging money in Africa such as high charges on transactions and the multiple parties through which the money must go before it reaches the recipient.

To celebrate this milestone, Chipper is running a promo where all users get a 5 per cent discount on the first airtime purchase for the day and a 20 per cent discount on the first purchase of data until tomorrow (Friday 9th July).

The journey so far

Chipper Cash offers instant no-fee local and cross-border money transfer, discounted airtime purchase and zero charges on bill payments.

Since the app’s global launch, it has managed to spread across seven African countries including Uganda, Kenya, Tanzania, Rwanda, Nigeria, Ghana, and South Africa. It recently extended its service into the United Kingdom (UK) and is planning to enter the United States market as well.

Some of the key pros that come with using the app is its flexibility which allows one to receive money in any currency, and not need to make a visit to a forex bureau to exchange. The app automatically translates it into your home currency.

Interestingly, users can ably send and receive crypto on the app, be it to settle a bill or send someone help using Bitcoin and Ethereum, as long as both the sender and recipient are on Chipper Cash. With the adoption of crypto currencies on a high in Africa, especially in the countries where the app operates, it is obvious that the number of users is growing too.

By the end of 2019, the app had 700,000 users, almost entirely through word of mouth. To date, Chipper Cash has served over 3.5 million users, while averaging 10,000 daily users and over 80,000 transactions per day. The company is likely to hit the 5 million users mark by the end of this year.
It is not just the users that believe in the app, there has been backing from investors too. A $13.8 million Series A round from Deciens Capital and other investors in June 2020, a $30 million Series B round led by Ribbit Capital and Jeff Bezos fund Bezos Expeditions in November 2020, and a recent $100 million Series C round led by SVB Capital in June 2021 have made the company the most valuable startup on the African continent.

There’s no better way to celebrate a third anniversary than to be that!
What does the future hold for Chipper Cash?
Chipper Cash has a lot that it is working on to deliver to its users in the next few years. In addition to the existing BTC and ETH, the app is working on adding more currencies to boost crypto transactions and attract more users on the platform.

With some elements of bill payments such as airtime and data bundle purchase already in place, the app is working adding payments for utilities such as electricity by Umeme, water by NSWC, and others.

The company is also working on launching virtual cards to enable seamless online transactions and payment. Interested users can already sign up via the app or website to get notified when the product is available in their market. That’s not all, they are also soon launching investment in stocks for each of the markets in which the app is currently operating.

The business community is as well catered for, with the coming of Chipper checkout for business payments as well as soon to be availed network API.

This story is sponsored by Chipper Cash.