Crypto Exchange Yellow Card Raises $40M
By Space Coast Daily // October 6, 2022
Yellow Card Financial, a pan-African cryptocurrency exchange, said on September 19 that it had finished a $40 million Series B investment round. In this round, Polychain Capital was the main investor.
Valar Ventures, Third Prime Ventures, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, The Raba Partnership, Jon Weiner, Alex Wilson, and Pat Duffy were among the other investors in the round. Before you trade Bitcoin, here are the Five Things to Avoid When Trading Bitcoin.
In a press release, the company said it would use the extra money to grow, make new products, and strengthen its strategic alliances across Africa. With the release of the press release, the news was made public.
Chris Maurice, CEO of Yellow Card and one of its co-founders, was quoted in a news release as saying, “Over the last three years, our team has worked nonstop to make this technology available to everyone and make a world-class product.” He also said, “The success of our fund-raising effort in this market shows how determined our team is and how important it is to have access to cryptocurrencies in Africa.”
The statement says that Yellow Card has been in business in Nigeria since 2019 to give everyone in Africa access to bitcoin, Ethereum, stablecoins, and other cryptocurrencies.
The Yellow Card platform is now available in sixteen countries, and the company says that more than a million people have used it.
Why people choose and trust Yellow Card
Multiple Payment Options
We have different ways for you to pay depending on where you live. You can buy bitcoin online with a bank transfer or mobile money, or you can go to a Yellow Card retailer in your area and buy cryptocurrency there.
Made especially for you
The Yellow Card platform is based on our mission: “Financial inclusion for everyone.” We want everyone to be able to use bitcoin so they can enjoy the freedom it gives them from financial restrictions.
Secure
Our number one goal is to keep our clients’ money safe. Our distributed system was built from the ground up to make security easier for both customers and agents. The Yellow Card is not a place to invest, get rich quickly, or do multi-level marketing (MLM).
What’s the latest news about the benefits of a Yellow Card?
■ Getting things done faster
■ Users of YC can send and receive encrypted messages without much trouble.
■ The money was taken out right away.
■ Multi-language support
How can you make money with a Yellow Card?
Users can make money by getting their friends and other people they know to sign up for Yellow Card. You will get 20% of what the person you referred to spends on buying or selling cryptocurrency.
Yellow Card gets $40 million so that it can keep growing fast
You can buy and sell cryptocurrency at Yellow Card in Nigeria. In 2019, it opened. Investors can buy and sell Bitcoin (BTC), Ethereum (ETH), and the stablecoin USDT on this exchange.
The company said it would use the new money to speed up its business growth, keep growing its operations across Africa, make new products, and support new partnerships.
Chris Maurice, CEO and co-founder of Yellow Card, says that the latest funding results from “relentless hard work toward a common goal.” This funding comes after the company successfully raised $15 million in a Series A funding round a year ago, led by Valar Ventures, Third Prime, and Castle Island Ventures. The exchange’s most recent fundraising effort raised 57 million dollars, more than any other cryptocurrency company in Africa.
Since last year’s increase, the company has grown from 12 to 16 African countries, hired many new people, given all full-time employees stock options, started Yellow Pay, reached 1 million customers, and done much more.
