Yellow Card Closes US$33M Series C Funding Round Led by Blockchain Capital to Further Accelerate Growth

Yellow Card Closes US$33M
Share It On:

18th October 2024, Kathmandu

Yellow Card (https://YellowCard.io), the largest and first licensed Stablecoin on/off ramp on the African continent, today announced the closing of its Series C financing.

Yellow Card Closes US$33M Series

The US $33 million equity financing was led by Blockchain Capital, with participation from Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital.

This financing marks a significant milestone for the company and the African FinTech industry as a whole, as it validates the vision and progress for stablecoins on the continent and practical applications for the technology worldwide.

“This fundraise not only demonstrates our resilience but also highlights the vital role of digital assets for businesses across Africa,” said Chris Maurice, CEO and co-founder of Yellow Card. “We are excited about the opportunities, partnerships, and journey ahead; and I’m proud to work with an incredible cohort of investors that share our vision for the industry and the continent.”

Since its launch in Nigeria in 2019, Yellow Card has established itself as a pioneering force in the industry, with operations spanning 20 African countries and over US$3 billion in transactions facilitated across the continent.

This newly secured capital will be applied to fund growth and expansion, particularly through enhancing Yellow Card’s API and widget products — the gateways for international businesses (including Coinbase (https://apo-opa.co/405SQjq) and Block (https://apo-opa.co/405SQjq) to tap into African markets and for Pan-African companies to easily make international payments and manage their treasury via stablecoins. Additionally, Yellow Card is developing innovative new products for the continent, strengthening its team and systems, and continuing to lead engagement with regulators across the continent.

This financing reflects the level of confidence expressed in the business by both new and existing investors.

“The future of payments lies in fast, affordable rails for everyone, powered by open networks,” said Aleks Larsen, General Partner at Blockchain Capital, the lead investor in Yellow Card’s Series C financing. “We couldn’t be more excited to back Yellow Card as they bring Africa on-chain with stablecoins.”

Yellow Card remains steadfast in its commitment to empowering the continent by making it easy for businesses of all sizes to make international payments, manage their treasury, and access hard currency liquidity via stablecoins.
Distributed by APO Group on behalf of Yellow Card Financial.

Yellow Card Closes US$33M Series


Share It On:

Recent Posts

Kamana Sewa Bank’s 18th Anniversary Cleanliness Drive: Honoring Nepal’s Cultural Heritage

Kamana Sewa Bank’s 18th Anniversary Cleanliness Drive: Honoring Nepal’s Cultural

Share It On:8th November, Kathmandu To celebrate its 18th anniversary, Kamana Sewa Development Bank conducted a nationwide cleanliness campaign at

Hyundai Ioniq 5 EV Now Available in 100 kW Variant in Nepal – Book Your Premium Electric Vehicle Today

Hyundai Ioniq 5 EV Now Available in 100 kW Variant

Share It On: 8th November 2024, Kathmandu Hyundai, through its official distributor Laxmi Intercontinental, has introduced an upgraded version of

Alipay+ Partners NEPALPAY QR: Seamless Cross-Border Payments in Nepal

Alipay+ Partners NEPALPAY QR: Seamless Cross-Border Payments in Nepal

Share It On:8th November 2024, Kathmandu Nepal Clearing House Limited (NCHL), a prominent operator driving the majority of the digital

Call For Fellowship Applications 2024: National School on Internet Governance and Digital Rights

Call For Fellowship Applications 2024: National School on Internet Governance

Share It On:8th November 2024, Kathmandu The Digital Rights Festival is set to take place from December 1-3, 2024, providing

DRN & OONI Join Forces to Combat Internet Censorship in Nepal

DRN & OONI Join Forces to Combat Internet Censorship in

Share It On:8th November 2024, Kathmandu Digital Rights Nepal (DRN) is proud to announce a new partnership with the Open

Niriv: Nepal’s First Homegrown Search Engine and Digital Platform Launched in Biratchowk

Niriv: Nepal’s First Homegrown Search Engine and Digital Platform Launched

Share It On:8th November 2024, Kathmandu Niriv, Nepal’s first locally developed search engine and digital platform, is set to transform