P2P payment startup Chipper Cash has secured new investment to expand into new African markets.
The company is already operating in Ghana, Uganda, Nigeria, Tanzania, Rwanda and Kenya. It is now looking to expand into more regions in southern Africa, according to TechCrunch.
That is where the $6m raised from both previous investors as well as new ones such as Raptor Group comes in.
The company provides a cross-border mobile payment solution that already has over 600,000 users. Chipper Cash also runs its consumer to business mobile payment product Chipper Checkouts.
While the P2P service is free, the merchant focused service is not.
The news comes hot on the heel of the San Francisco-based?startup announcing its expansion into Nigeria together with PayStack, the payment gateway company, in September.
Chipper Cash is by no means the only game in town.
Payment and remittances companies have picked up 39.8% of all FinTech investments in Africa since 2014, according to FinTech Global Data. That is roughly $437.8m of the $1.1bn invested in the sector during that period.
Other notable sectors included marketplace lending, WealthTech, InsurTech and real estate.
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