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Home Countries Nigeria

Nigerian Bitcoin Exchange YellowCard Raises $1.5 Million

Kojo Owusu by Kojo Owusu
August 31, 2020
in Nigeria
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Nigerian Bitcoin Exchange YellowCard Raises $1.5 Million
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Yellow Card has raised $1.5 million in a seed round as the project expands beyond Nigeria.

The seed round saw YellowCard receive investments from Polychain, VC firm Andreessen Horowitz, and Celo. YellowCard started as a bitcoin gift card platform and has evolved into a cryptocurrency exchange with over 30,000 merchants. According to figures from the platform, it has processed more than $35 million in transactions.

Recently, YellowCard has been expanding across the continent, entering South Africa and Botswana. In recent social media updates, YellowCard has indicated plans to expand into Kenya and Cameroon in September.

View this post on Instagram

Yellow Card will be launching in Kenya soon! Sign up for early access at http://yellowcard.io/kenya

A post shared by Yellow Card (@yellowcardio) on Aug 24, 2020 at 9:02pm PDT

In a press statement on the seed round, YellowCard said:

With this funding, Yellow Card plans to expand even further and become the dominant exchange across the continent. Along with the fundraise, Yellow Card is announcing that it will be launching its services in Kenya and Cameroon starting September 1.

What’s more, the firm also announced that Jason Marshall, former senior director of payment services at Walmart, has joined the YellowCard team as its chief operating officer.

Also Read:

  • Binance Invested Exchange, Yellow Card Expands To Botswana and South Africa
  • Bitcoin In Nigeria: The Journey So Far
  • How To Buy Dash in Nigeria
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Tags: Andreessen HorowitzCeloPolychainYellowCard
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Kojo Owusu

Kojo Owusu

Kojo Owusu has been a cryptocurrency marketer and writer for over four years. He has contributed to several bitcoin and cryptocurrency blogs and resource websites. Kojo is now an editor at BlockNewsAfrica and does ghostwriting for other bitcoin blogs.

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