Yellow Card Raises $33M to Expand Stablecoin Services in Africa
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Chris Maurice, Yellow Card's CEO & Co-Founder
Pan-African fintech startup Yellow Card has secured $33 million in Series C funding, boosting its total equity funding to $85 million. Founded in Nigeria in 2019, Yellow Card has rapidly expanded to become the largest licensed Stablecoin on/off ramp across Africa, with operations in 20 countries and over $3 billion in facilitated transactions.
This latest round follows a $40 million Series B funding in 2022. The Series C round was led by Blockchain Capital, with contributions from Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital.
Yellow Card plans to use the new funding to fuel its growth, focusing on improving its API and widget products. These innovations will help global companies like Coinbase and Block enter African markets and allow African businesses to manage international payments using stablecoins.
The startup is also developing new products tailored for African markets and strengthening its internal team and systems, while working closely with regulators.
"This fundraise shows our resilience and highlights the importance of digital assets for African businesses," said Chris Maurice, CEO and co-founder of Yellow Card.
Source: Tom Jackson / Disrupt Africa
Yellow Card
Yellow Card is the safest, easiest and cheapest way to buy, sell and store bitcoin (BTC) and tether (USDT) in Africa. With multiple payment options, competitive rates and zero fees, you can buy and sell bitcoin safely and easily on Yellow Card.
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