# Chipper Cash

> Chipper Cash is a pan-African payments and consumer finance app offering cross-border transfers, cards, crypto and investing.

Source: https://www.neobank.wiki/wiki/chipper-cash
Last updated: 2026-08-12
Categories: Financial technology, Nigeria neobanks, Ghana neobanks, Kenya neobanks, United States fintech, Payment platforms, Remittance platforms, Consumer neobanks, Partner-bank neobanks, Companies founded in 2018

**Chipper Cash** is a financial technology company founded in 2018 by Ugandan entrepreneur **Ham Serunjogi** and Ghanaian engineer **Maijid Moujaled**. It began as a fee-free peer-to-peer cross-border payments app for African consumers and later added Visa cards, crypto, stock investing and remittance corridors from the United States and United Kingdom.[^cc1] The company is legally headquartered in San Francisco and operates across several African markets including Nigeria, Ghana, Uganda, Kenya, Rwanda and South Africa.

## History

Serunjogi and Moujaled met as students at Grinnell College in Iowa and launched Chipper to make intra-Africa transfers as simple as sending a text. The product scaled quickly on no-fee P2P payments across English-speaking African corridors. In 2020–21 Chipper raised successive large rounds, including a $100 million Series C led by SVB Capital and a $150 million extension led by FTX, taking total capital above $300 million and a reported valuation above $2 billion.[^cc2]

After the 2022 fintech winter and FTX’s collapse (FTX had marked the stake down to about $1.25 billion), Chipper cut staff in multiple rounds and refocused on core African payments, cards and profitability rather than rapid geographic expansion.[^cc3]

## Founders

**Ham Serunjogi** is co-founder and chief executive officer. A Ugandan entrepreneur, he has been the public face of Chipper’s pan-African payments thesis and later cost-discipline after the funding boom.

**Maijid Moujaled** is co-founder and president. A Ghanaian computer scientist, he partnered with Serunjogi on product and engineering as Chipper expanded from P2P transfers into cards, crypto and investments.

## Model and licences

Chipper is not a full-service chartered bank. Customer balances sit on e-money and payments licences rather than classic deposit charters—payments and e-money authorisations in African markets (including Nigeria’s CBN, Ghana’s BoG and peers), U.S. money-transmitter licences and a UK FCA e-money institution permission. The model is closer to a multi-jurisdiction wallet and remittance platform than a UK-style licensed [challenger bank](/wiki/challenger-bank).

## Products

Core products include intra-Africa P2P and remittances, multi-currency wallets, the Chipper Visa card (virtual and physical in supported markets), crypto trading and access to U.S. stocks. Users and commentators often single out the card as a reliable spend product for Africans paying internationally.

## Reception

Chipper was one of Africa’s best-known consumer fintech unicorns and a peer to [Nala](/wiki/nala), [Wise](/wiki/wise) and [Remitly](/wiki/remitly) on diaspora corridors. Supporters praise fee-free P2P and a card that “actually works” for global spend; critics note the post-2021 valuation cut, layoffs and the difficulty of defending a pan-African consumer wallet against mobile-money incumbents such as [M-Pesa](/wiki/m-pesa) and specialist remittance apps.

## External links

- [Chipper Cash official website](https://chippercash.com/)

## Infobox

- **Type**: Private
- **Industry**: Financial technology
- **Founded**: 2018
- **Founders**: Ham Serunjogi, Maijid Moujaled
- **Headquarters**: San Francisco, U.S.
- **Markets**: Nigeria, Ghana, Uganda, Kenya, Rwanda, South Africa, US, UK
- **Model**: E-money / remittance wallet
- **X**: @chippercashapp
- **Website**: [chippercash.com](https://chippercash.com/)

## Frequently asked questions

### What is Chipper Cash?

Chipper Cash is a pan-African payments and consumer finance app offering cross-border transfers, cards, crypto and investing.

### When was Chipper Cash founded?

Chipper Cash was founded in 2018.

### Where is Chipper Cash headquartered?

Chipper Cash is headquartered in San Francisco, U.S..

### Who founded Chipper Cash?

Chipper Cash was founded by Ham Serunjogi, Maijid Moujaled.

### What type of company is Chipper Cash?

Chipper Cash is described as E-money / remittance wallet in its neobank.wiki profile.

### What is the official Chipper Cash website?

The official website for Chipper Cash is https://chippercash.com/.


## References

[^cc1]: Chipper Cash is a pan-African consumer payments and finance app offering transfers, cards and related products. — https://chippercash.com/
[^cc2]: Chipper raised a $100 million Series C led by SVB Capital (2021) and a $150 million extension led by FTX, taking valuation above $2 billion. — https://techcrunch.com/2021/11/01/chipper-cash-gets-2b-valuation-with-150m-extension-round-led-by-ftx/
[^cc3]: After FTX’s collapse Chipper’s valuation was marked down and the company conducted multiple layoff rounds while refocusing on core products. — https://techcrunch.com/2023/02/20/chipper-cash-executes-second-round-of-layoffs-less-than-three-months-after-axing-12-5-of-staff/