The funding round was led by Polychain Capital, less than one year after the Series A. Pan-African cryptocurrency exchange Yellow Card Financial has concluded a $40 million Series A financing round, which was managed by Polychain Capital, a crypto-focused venture capitalist.
According to the press release, the funds will be used for expansion across the continent, development of new products, and the formation of new partnerships.
Yellow Card Financial Operates in Africa as a leading crypto exchange
Yellow Card was launched in Nigeria in 2019 and provides African users with bitcoin (BTC), Ethereum (ETH), stablecoins, and other cryptocurrencies.
Other investors included Valar Ventures and Third Prime Ventures. Sozo Ventures was also involved. Fabric Ventures and DG Daiwa Ventures were also part of the round.
Yellow Card has the most efficient execution team on the continent. We are impressed at the ease with which they adapt and adapt to the different African markets. “We’ve barely scratched the surface of the possibilities when it comes crypto in Africa,” Will Wolf, Polychain Capital partner, said in the statement.
Last September, Yellow Card raised $15 Million in Series A funding. This round was led by Valar Ventures and Third Prime, as well as Castle Island Ventures.
