Yellow Card, a Pan-African bitcoin trade, introduced yesterday that it raised $15 million in a Sequence A funding spherical led by Valar Ventures, Third Prime, and Fort Island Ventures, reported Forbes. Jack Dorsey’s Sq., Coinbase Ventures, and Blockchain.com Ventures additionally participated within the spherical, serving to fund the trade’s operations in 12 international locations throughout the African continent. Third Prime acquired a seat on the corporate’s board.
“Many African international locations adopted cell phones with out ever distributing landlines at scale, and lots of African international locations adopted cell funds with out ever distributing credit score and debit playing cards at scale,” stated James Fitzgerald, a founding accomplice at Valar Ventures, per the report. “We see an identical alternative for crypto; it may well allow Africans to leapfrog a complete era of economic companies know-how.”