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Interviews - February 19, 2021

Chipper Cash Drives Cross-border Financial Services Across Africa

Chipper Cash is a fintech startup which enables people to transfer money and make online payments across Africa. The company’s local and cross-border money transfer and payments services such as airtime purchase and bill payments come with zero charges. 

Founded in 2018 by Ham Serunjogi and Maijid Moujaled, Chipper Cash is shaping up to become one of the biggest players in Africa’s fintech space. The platform has scaled rapidly since it was launched, gaining over 3 million users and a lot of funding.

Despite the COVID-19 pandemic, Chipper Cash had a great 2020 as the startup already had a lot of traction from its $6M Seed funding round in December 2019. Last year, the company raised a $13M Series A round and a $30M Series B round with participation from Bezos Expedition – Jeff Bezos’ personal VC fund. 

Business Elites Africa sat with Hasan Luongo, Chipper Cash’s growth marketing Vice President to discuss the company’s exploits in Africa and the plans for the future. 

When asked about the inspiration behind the launch of Chipper Cash in Africa, Hasan spoke of how the founders of the fintech company saw an infrastructural gap in financial services on the continent and sought to provide an innovative solution.

He said, “The idea for Chipper was born from the personal experiences of our founders Ham (Ugandan) and Maijid (Ghanaian) on how hard and expensive it was to send money across borders in Africa. They knew payments are critical infrastructure for individuals and businesses operating on the continent and set out to make sending money as easy as sending a text message”.

Chipper Cash shines in several areas of payments services but according to Hasan, the platform’s greatest strengths lie in its Multi-country interoperability. Chipper Cash users can add cash and cash out from their local bank accounts or mobile money networks without incurring any fees.” He said.

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