Yellow Card Financial, the Pan-African cryptocurrency exchange, has announced the close of its $40M Series B funding. The round was led by Polychain Capital, with participation from Valar Ventures, Third Prime, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, The Raba Partnership, Jon Weiner, Alex Wilson, Pat Duffy, and more.
The round will enable the company to expand across the continent, develop new product products and advance strategic partnerships.
“This fundraise, in the current market environment, not only showcases the resilience of our team, but also clearly demonstrates the appetite and necessity for cryptocurrency in Africa,” said Chris Maurice, CEO and co-founder of Yellow Card.
Launched in Nigeria in 2019, the exchange in August 2021 closed its Series A fundraise of $15M and is now operating in 16 African countries including Gabon, Senegal, Rwanda, and the Democratic Republic of the Congo.
Making significant hires including: Alice Tomdio, Chief Financial Officer; Craig Stoehr, General Counsel and Micha Katz, Chief Information Security Officer.