African Crypto Exchange Yellow Card Completes $15M Funding Round

Yellow Card has raised $15 million in a Series A funding round, the African-focused cryptocurrency exchange and digital wallet provider announced Monday.

  • Valar Ventures, Third Prime and Castle Island Ventures led the funding round, which also included Square, Cash App, Coinbase Ventures, Polychain Capital and Blockchain.com Ventures.
  • The five-year-old company, which called the round the largest ever for an African crypto exchange, allows users on the continent to buy and sell bitcoin, ether and USDT with cash, mobile money or via a local bank transfer.
  • The company said that since the beginning of the coronavirus pandemic, it has seen a 30-fold increase in its number of users.
  • Yellow Card has offices in 12 African countries, including South Africa, Kenya and Nigeria, the largest country on the African continent by population.
  • Last year, South African crypto exchange VALR raised $3.4 million in its Series A funding round.

CORRECTION (SEPT 27, 14:17 UTC): Corrects day of release to Monday.