The spherical, led through Polychain Capital, brings Yellow Card to $57M general raised, greater than any crypto corporate at the African continent.
JOHANNESBURG, Sept. 19, 2022 /PRNewswire/ — Yellow Card Monetary, the Pan-African cryptocurrency trade, has introduced the shut of its $40M Collection B investment. The spherical used to be led through Polychain Capital, with participation from Valar Ventures, 3rd High Ventures, Sozo Ventures, Fortress Island Ventures, Material Ventures, DG Daiwa Ventures, The Raba Partnership, Jon Weiner, Alex Wilson, Pat Duffy, and extra.
The investment will allow the corporate to force exponential trade enlargement, proceed its a success growth around the continent, increase new product inventions, and advance strategic partnerships throughout Africa.
Chris Maurice, CEO and co-founder of Yellow Card, says that this carry is the made from relentless onerous paintings against a not unusual purpose.
“For the previous 3 years our workforce has labored tirelessly to make this generation out there to someone and create a world-class product. This fundraise on this marketplace no longer most effective showcases the resilience of our workforce but additionally reiterates the urge for food and necessity for cryptocurrency in Africa,” mentioned Chris.
Since launching in Nigeria in 2019 the workforce, primarily based throughout 21 international locations, has sought to make Bitcoin, Ethereum, Stablecoins, and different cryptocurrencies out there to someone in Africa.
In August 2021, Yellow Card introduced its Collection A fundraise of $15M. Since then the workforce has completed important milestones together with:
- Rising from 12 to 16 international locations, introduced in: Gabon, Senegal, Rwanda, and the Democratic Republic of the Congo;
- Making important hires: Alice Tomdio, Leader Monetary Officer; Craig Stoehr, Basic Recommend and Micha Katz, Leader Data Safety Officer;
- Granting inventory choices to each and every full-time worker;
- Launching Yellow Pay, a crypto-powered method to ship price throughout borders;
- Surpassing 1 million shoppers in March.
The importance of this carry, particularly in a down marketplace, no doubt displays the extent of industrial self assurance expressed through new and current buyers.
“Yellow Card is the most efficient executing workforce at the continent. We’re inspired through the best way they seamlessly alter and adapt to the original alternatives and calls for of the more than a few African markets. We have now slightly touched the outside of what’s imaginable in the case of crypto in Africa, and we are excited for what is to return,” mentioned Will Wolf, Spouse at Polychain Capital.
Yellow Card is dedicated to proceed its project to create monetary inclusion for throughout more than a few actions around the continent.
SOURCE Yellow Card