YellowCard Financial, a Pan-African cryptocurrency exchange has recently disclosed the close of $40M Series B fundraising.
The Raba Partnership, Valar Ventures, Third Prime, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, Jon Weiner, Alex Wilson, Pat Duffy, and other investors also took part in the round, which was headed by Polychain Capital.
The money will help the business expand rapidly, maintain its successful pan-African development, create new products, and advance strategic alliances across the continent.
According to Chris Maurice, CEO and Co-Founder of YellowCard, this raise is the consequence of everyone working tirelessly to achieve a single goal.
He said that the YellowCard team has been working tirelessly for the past three years to make this technology available to everyone and develop a top-notch product.
In the current market climate, this fundraising effort not only illustrates the team’s tenacity but also amply proves how much demand there is for cryptocurrencies in Africa.
The team, which is spread across 21 nations and started in Nigeria in 2019, has worked to make Bitcoin, Ethereum, stablecoins, and other cryptocurrencies available to everyone in Africa.
YellowCard announced its $15 million Series A financing in August 2021. Since then, the group has accomplished important milestones like:
- Launching in Gabon, Senegal, Rwanda, and the Democratic Republic of the Congo, expanding from 12 to 16 nations giving every full-time worker stock options
- Introducing Yellow Pay, a cryptocurrency-powered method of sending money across borders
- Hitting millions of users
The importance of this boost, particularly in a bear market, definitely shows the amount of investor confidence, both new and old:
According to Will Wolf, a partner at Polychain Capital, YellowCard is the continent’s top executing team. We are awed by how easily they adapt to the particular opportunities and requirements of the various African markets.
In terms of crypto in Africa, we’ve only scratched the surface of what is possible, and we’re eager to see what lies ahead.
Through several initiatives across the continent, YellowCard is dedicated to upholding its purpose of fostering financial inclusion for all.
For those who want to use bank-like services without really having a bank account, e-wallets are the ideal answer.
In certain aspects, mobile wallets function like bank accounts. It allows a user to send money to other users’ bank accounts, save money, and transfer funds.
Additionally, mobile wallets facilitate transactions. Mobile wallets allow users to send and receive payments for a variety of goods and services.
Additionally, some mobile wallets, like YellowCard, offers a secure environment for trading in cryptocurrencies and other fiat currencies.
Utilizing tools like YellowCard, sending and receiving cryptocurrency is very simple. Several methods are available for sending and receiving cryptocurrency from your wallet. These industries have clear potential, and they are continually gaining ground.
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