The San-Francisco based cross-border African startup, Chipper Cash has expanded to Nigeria. It further strengthened the move by opening an office in the capital city, Lagos, and hiring Abiodun Animashaun, cofounder and CFO at Gokada, the ride-hailing startup based out of Lagos, as County Manager.
Chipper Cash is a fintech firm involved in providing a platform for cross border payments. Founded by a Ugandan (Ham Serunjogi) and a Ghanaian (Maijid Moujaled), both of whom had arrived in the United States as students, Chipper Cash has grown at a steady clip and currently boasts as many as 70,000 users.
With offices in Ghana and Kenya, the firm is expanding to Nigeria, Africa’s most populous nation, to offer its Peer to Peer payment service and app. It is doing this in partnership with PayStack—the payment gateway company, as confirmed by Paystack CEO, Shola Akinlade.
Though the company only fully started October last year 2018, its plan to move to Nigeria’s major economy and scale digital finance applications in the budding Fintech space in the country indicates that its product has got a degree of traction.
Further testifying to this is the fact that as many as 70,000 active users on its no-fee, P2P, cross-border mobile-money payments product. Plus, 250,000 transactions have been completed in the platform since it went live.
Speaking on the rationale behind expanding to Nigeria, Ham Seunjogi, one of the co-founders of Chipper Cash, said,
“Nigeria is the largest economy and most populous country in Africa. Its fintech industry is one of the most advanced in Africa, up there with Kenya and South Africa.”
“I think for any company doing fintech across borders, that is looking to be successful in Africa, it’s imperative that you have a presence in Nigeria.” he further said.
Besides Animashaun, Alicia Levine is another senior figure who is leaving and African tech venture to join Chipper Cash. Alicia Levine will leave Nairobi based internet hardware and service startup BRCK to become Chipper Cash’s Chief Operating Officer, according to Chipper Cash CEO Ham Serunjogi.