Yellow Card, Africa Fastest-growing Cryptocurrency Exchange, Has Raised $15 Million In Series A Funding
Yellow Card, Africa's fastest-growing cryptocurrency exchange, has raised $15 million in Series A Funding
Yellow Card, a pan-African cryptocurrency exchange, has announced a $15 million Series A funding round, the largest ever raised by an African cryptocurrency exchange, to expand its hiring and expand its operations across the continent. It was led by Valar Ventures, Third Prime, and Castle Island Ventures, with additional investment coming from companies such as Square, Inc. and blockchain venture capital firms such as Coinbase Ventures and Polychain Capital, as well as fabric venture capital firms such as Raba Partnership and Fabric Ventures, as well as greenhouse capital firms such as GreenHouse Capital and GreenHouse Capital.
Yellow Card's co-founder and CEO, Chris Maurice, spoke about the significance of this round of investment for the company's future.
'Our mission has always been to make cryptocurrency accessible to anyone and everyone anywhere on the African continent,' Maurice explained. "Now, we have the financial support to make that a reality, as well as an incredible team of investors who believe in our mission."
Since launching in Nigeria in 2018, the Yellow Card team, which is composed of members from the United States and Africa, has worked to make cryptocurrencies such as Bitcoin, Ethereum, and USDT Stablecoin accessible to anyone in Africa. With a presence in 12 countries and 110 employees spread across 16 countries, the company now has the largest geographical footprint on the continent, thanks to a nearly 30x increase in users across Africa since the outbreak of the pandemic.
African countries can benefit tremendously from the potential of cryptocurrency to transform financial services
African countries, according to James Fitzgerald of Valar Ventures, "are poised to benefit tremendously from the potential of cryptocurrency to transform financial services." The vision of a Pan-African cryptocurrency platform held by Yellow Card is one in which we believe. What sealed the deal was their multi-national team, which we believe possesses the necessary local knowledge, technical expertise, and unwavering passion to address the continent's most basic financial services needs."
Earlier this month, a new report from Chainalysis revealed that six African countries were among the top 20 most crypto-adopting countries in the world, according to the Global Crypto Adoption Index. Yellow Card wants everyone to be aware that Africa should be viewed as a prominent region for cryptocurrency adoption, according to the organization.
"This raise serves as a confirmation that Africa has a significant role to play in the cryptocurrency industry," said Munachi Ogueke, Chief Bitcoin Officer at Yellow Card. The access that Yellow Card provides, backed by the funds raised, will allow crypto to flourish and serve as a dependable enabler for people all over the world.
Visit www.yellowcard.io to buy and sell Bitcoin right now, or download the app from Google Play or the Apple App Store to get started right away.
