Crypto exchange Yellow Card raises healthy Series A

Image Credit: Pixabay

Yellow Card, a pan-African cryptocurrency exchange, has raised a healthy Series A round from an investor group led by Valar Ventures, Third Prime, and Castle Island Ventures. The other investors in the group include Square, Blockchain.com Ventures, Coinbase Ventures, Polychain Capital, BlockFi, Fabric Ventures, Raba Partnership, Moonpay, Greenhouse Capital, and others. Between them, the investors are investing $15 million in the round, the financial terms of which have not been disclosed.

Yellow Card will use the capital to hire more people and continue its expansion on the continent. Launched in Nigeria in 2018, the business has expanded quickly and now has a presence in 12 countries, the largest geographical footprint on the continent of any cryptocurrency exchange. The company reports that its customer base has expanded by a factor of thirty since the beginning of the COVID-19 pandemic.

To read this article, you must be a paid subscription member. (Current members login here)

\"\"

Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at]africacapitaldigest.com today.