Tour led by Valar Ventures, Third Prime and Castle Island with participation from Square, Inc., Coinbase Ventures and Blockchain.com Ventures
JOHANNESBURG, September 27, 2021 / PRNewswire / – Pan-African Cryptocurrency Exchange, Yellow card, announced a $ 15 million Series A, the largest ever created by an African cryptocurrency exchange, to increase hiring and continue to expand across the continent. The round was led by Valar Ventures, Third Prime and Castle Island Ventures with participation from Square, Inc., Blockchain.com Ventures, Coinbase Ventures, Polychain Capital, BlockFi, Fabric Ventures, Raba Partnership, MoonPay, GreenHouse Capital, and more Again.
Chris Maurice, co-founder and CEO of Yellow Card, expressed the importance of this investment cycle for the future of Yellow Card.
“Our mission has always been to make cryptocurrency accessible anywhere and everywhere on the African continent,” said Maurice. “Now we have the support to make this a reality, alongside an incredible team of investors who share our vision. “
Since the launch in Nigeria in 2018, the United States and AfricaThe Yellow Card team sought to make cryptocurrencies like Bitcoin, Ethereum, and USDT Stablecoin accessible to everyone in Africa. The company now has the largest geographic footprint on the continent, with a presence in 12 countries, 110 employees in 16 countries and an almost 30-fold increase in the number of users across Africa since the start of the pandemic.
“Africa is poised to benefit tremendously from the potential of cryptocurrency to transform financial services, ”said Valar Ventures. James fitzgerald noted. “We believe in Yellow Card’s vision of a pan-African cryptocurrency platform. What cemented the deal was their multinational team, who we believe have the local knowledge, technical expertise. and unequivocal passion for meeting the continent’s basic financial services needs. “
This news follows a new report from Chainalysis, which ranked six African countries in the top 20 of the Global Crypto Adoption Index. Yellow Card wants everyone to know that Africa should be seen as a leading region for crypto adoption.
“This increase is a validation that Africa has a major place in the crypto industry, ”said Munachi Ogueke, Bitcoin Director at Yellow Card. “With the access that Yellow Card brings, fueled by this increase, we can now let crypto proliferate and be a reliable catalyst for people across the continent. . “
About Yellow Card Financial
Yellow Card powers the cryptocurrency ecosystem in Africa. Yellow Card’s team of 110 employees in 16 countries is rapidly building a pan-African crypto network. Yellow Card makes it easy for anyone, anywhere in Africa to buy crypto using cash, mobile money, card, or wire transfer. The yellow card allows anyone on the continent to buy, sell, spend, and store Bitcoin, Ethereum, or USDT to solve basic financial services issues. Portion Cameroon, Kenya, Nigeria, South Africa, Botswana, Rwanda, Tanzania, Ghana, Zambia, Uganda, Gabon, Malawi, and more to come this year.
SOURCE Yellow Card Financial, Inc