Africa-Focused Crypto Exchange Yellow Card Raises $40 Million via Series B Round

Africa-Focused Crypto Exchange Yellow Card Raises $40 Million via Series B Round

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by Terence Zimwara
Africa-focused crypto alternate Yellow Card lately revealed it has closed its $40 million Sequence B funding spherical. The alternate’s announcement of its newest capital increase comes simply over a 12 months after it raised $15 million from its Sequence A spherical.
Yellow Card, an Africa-focused cryptocurrency alternate, lately disclosed it had closed its $40 million Sequence B funding spherical. The crypto alternate stated it is going to use the funds raised to finance the event of recent merchandise in addition to to “advance strategic partnerships throughout Africa.”
Based on a press statement, the alternate platform’s newest funding spherical was led by Polychain Capital with the participation of Valar Ventures, Third Prime Ventures, Sozo Ventures, Fortress Island Ventures, Material Ventures, DG Daiwa Ventures, The Raba Partnership, Jon Weiner, Alex Wilson, and Pat Duffy.
As reported by Bitcoin.com information in September final 12 months, Yellow Card had raised $15 million in its Sequence A funding spherical. This spherical was led by Valar Ventures with the participation of Third Prime, Fortress Island Ventures, Sq., Coinbase Ventures, and Blockchain.com Ventures.

Africa’s Urge for food for Crypto

In the meantime, in remarks accompanying the assertion, Chris Maurice, the chief government officer and co-founder of Yellow Card, stated:
For the previous three years, our staff has labored tirelessly to make this know-how accessible to anybody and create a world-class product. This fundraise on this market not solely showcases the resilience of our staff but in addition reiterates the urge for food and necessity for cryptocurrency in Africa.
For his half, Will Wolf, a companion at Polychain Capital, praised the Yellow Card staff for the way in which it adjusts and adapts “to the distinctive alternatives and calls for of the assorted African markets.”
Based on the crypto alternate platform, for the reason that final capital increase Yellow Card launched operations in 4 extra African nations: Gabon, Senegal, Rwanda, and the Democratic Republic of the Congo. This brings the variety of African nations the place Yellow Card has operations to 16.
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Tags on this story
Chris Maurice, Cryptocurrency, Cryptocurrency Exchange, PolyChain Capital, Series A, Will Wolf, Yellow Card

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Terence Zimwara is a Zimbabwe award-winning journalist, creator and author. He has written extensively in regards to the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.

Picture Credit: Shutterstock, Pixabay, Wiki Commons
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