The round, led by Polychain Capital, brings up the yellow card $57M collected in total, more than any other crypto company on the African continent.
JOHANNESBURG, September 19, 2022 /PRNewswire/ — Yellow Card Financial, the pan-African cryptocurrency exchange, has announced the closing of its transaction $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 Duffyand more.
The financing will enable the company to drive exponential business growth, continue its successful expansion across the continent, develop new product innovations and advance strategic partnerships around the world Africa.
Chris MoritzCEO and co-founder of Yellow cardsays that this raise is the result of tireless hard work toward a common goal.
“For the past three years, our team has worked tirelessly to make this technology accessible to everyone and create a world-class product. This fundraiser in this market not only demonstrates the resilience of our team, but also reaffirms the appetite and need for cryptocurrencies Africa‘ Chris said.
Since the start in Nigeria In 2019, the team, based in 21 countries, tried to make Bitcoin, Ethereum, stablecoins and other cryptocurrencies accessible to everyone Africa.
in the Aug 2021Yellow Card announced its Series A fundraiser $15M. Since then, the team has achieved significant milestones, including:
- Grown from 12 to 16 countries, launched in: Gabon, Senegal, Rwandaand the Democratic Republic of Congo;
- Make significant readjustments: Alice TomdioChief Financial Officer; Craig StohrGeneral Counsel and Michael KatzChief Information Security Officer;
- granting stock options to each full-time employee;
- Introducing Yellow Pay, a crypto-backed way to send value across borders;
- Over 1 million customers in March.
The significance of this increase, particularly in a declining market, no doubt reflects the business confidence expressed by new and existing investors.
“Yellow Card is the best performing team on the continent. We are impressed with the way they adapt and adapt seamlessly to the unique opportunities and requirements of the different African markets. We’ve barely touched the surface of what’s possible when it comes to crypto Africaand we’re excited for what’s to come,” he said will wolfPartner at Polychain Capital.
Yellow Card is committed to continuing its mission of creating financial inclusion for all through various activities across the continent.
Buy and sell bitcoin today by visiting www.yellowcard.io or download the app from today google play or the Apple app store.
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SOURCE Yellow card