Amazon founder and world’s richest man Jeff Bezos has invested in African cross-border fintech startup Chipper Cash.
The fintech startup has secured a US$30 million Series B funding round led by Ribbit Capital with the participation of Bezos Expeditions.
Chipper Cash CEO, Ham Serunjogi said that the product offering expansion will focus on business payment solutions, crypto-currency trading options, and investment services.
Speaking to Tech Crunch, Serunjogi revealed that Chipper Cash would launch a stock product in Nigeria first allowing Nigerians to buy US stocks such as Tesla, Apple, or Amazon. Thereafter, the stock product will be rolled out in other countries.
“We’ll always be a P2P financial transfer platform at our core. But we’ve had demand from our users to offer other value services…like purchasing cryptocurrency assets and making investments in stocks,” Serunjogi told TechCrunch.
To date Chipper Cash has grown to 3 million users on its platform and processes an average of 80,000 transactions daily reaching the value of a monthly payment of US$100 million.