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African Crypto Exchange Yellow Card Completes $15M Funding Round

Valar Ventures, Third Prime and Castle Island Ventures led the round.

By James Rubin
AccessTimeIconSep 27, 2021 at 2:15 p.m. UTC
Updated May 11, 2023 at 7:01 p.m. UTC
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Yellow Card has raised $15 million in a Series A funding round, the African-focused cryptocurrency exchange and digital wallet provider announced Monday.

  • Valar Ventures, Third Prime and Castle Island Ventures led the funding round, which also included Square, Cash App, Coinbase Ventures, Polychain Capital and Blockchain.com Ventures.
  • The five-year-old company, which called the round the largest ever for an African crypto exchange, allows users on the continent to buy and sell bitcoin, ether and USDT with cash, mobile money or via a local bank transfer.
  • The company said that since the beginning of the coronavirus pandemic, it has seen a 30-fold increase in its number of users.
  • Yellow Card has offices in 12 African countries, including South Africa, Kenya and Nigeria, the largest country on the African continent by population.
  • Last year, South African crypto exchange VALR raised $3.4 million in its Series A funding round.
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    • CORRECTION (SEPT 27, 14:17 UTC): Corrects day of release to Monday.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    James Rubin
    James Rubin

    James Rubin was CoinDesk's U.S. news editor based on the West Coast.

    Follow @@JPRubin23 on Twitter

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