The fastest growing cryptocurrency exchange in Africa, Yellow Card, just announced that it has raised $15 million from its Series A investment round — the largest funding ever received by an African crypto exchange — to boost hiring and resume its expansion across the continent.
The round was led by Third Prime, Castle Island Ventures and Valar Ventures, and participated by Square Inc, Blockchain.com Ventures, Coinbase Ventures, BlockGi, Polychain Capital, and more.
Our mission has always been to make cryptocurrency accessible anywhere and everywhere across the African continent. Now, we have the backing to make that a reality, alongside an amazing team of investors who share our vision.
Chris Maurice, Co-founder and CEO of Yellow Card
James Fitzgerald of Valar Ventures remarked that Africa would greatly benefit from cryptocurrency’s ability to transform financial services. He added that Yellow Card’s talented multi-national team, alongside their vision of a Pan-African cryptocurrency platform, is capable enough to meet the continent’s basic financial needs.
Munachi Ogueke, the Chief Bitcoin Officer of Yellow Card, believes that the funding is proof that Africa has a significant role in the crypto industry. Ogueke said that Yellow Card can now “let crypto proliferate and be(come) a reliable enabler for people across the continent” with the access that it provides and the funding that it received.
