Crypto VC Blockchain Capital has led a $33 million Series C funding round in African stablecoin exchange Yellowcard.
Nigeria-based Yellow Card, a Coinbase portfolio company, has raised a total of $85 million in a “completed equity raise,” according to a statement. Earlier this year, Coinbase partnered with Yellow Card to expand access to its products in 20 countries on the African continent.
“This newly secured funding will be used to grow and expand the fund, particularly through enhancements to Yellow Card’s API and widget products, which are the gateway for international companies (including Coinbase and Block) to enter the African market. ”Yellow Card said in a statement.
Other participants in Series C include Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital.
Chris Maurice, co-founder and CEO of Yellow Card, said in a statement: “This funding not only demonstrates our resilience, but also recognizes the critical importance of digital assets to businesses across Africa. It highlights their role.”
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About the author
RT Watson is a senior reporter at The Block, covering a wide range of topics including US-based companies, blockchain gaming, and NFTs. He previously covered entertainment for the Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy, primarily focusing on technological disruption across media. Prior to that, he was at Bloomberg, where he covered corporate, economic and political news in Brazil. RT has interviewed a variety of people, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Master’s degree in Digital Sociology.
