New and returning investors back Yellow Card’s Series B

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Having raised $15 million for its Series A in August last year, Yellow Card Financial, a pan-African cryptocurrency exchange, has closed a significant B raising capital from a group of new and returning investors. Between them, the investors are putting $40 million to work in the firm, in a round led by Polychain Capital, one of the startup’s existing shareholders. The other returning investors include Valar Ventures, Third Prime Ventures, Castle Island Ventures, Fabric Ventures, and The Raba Partnership. DG Daiwa Ventures and a group of private investors are investing in the startup for the first time.

The valuation and other financial terms of the transaction have not been disclosed. Yellow Card will use the fresh capital to maintain its growth momentum, penetrating new markets on the continent, establishing new strategic partnerships, and investing in product innovation.

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