A SAN FRANCISCO FINTECH STARTUP ‘CHIPPER CASH’ EXPOUNDS TO NIGERIA
We all awear of the idea behind startups and their unique identities, efforts put in by these entities which ensure their service delivery in their respective ecosystem address each of the end-user requirements irrespective of the market. Yet, to ensure their products aren’t resident in a market, the need for expansion begs for other markets, however, ‘Chipper Cash’ isn’t an exception in this trajectory.
While a focus in this sphere is designed to shape our understanding regarding startups trajectory, and before we dive straight to the latest development emerging from a fintech startup, it will be fair to state that our area of interest regarding this subject will be broadly startups impacts and market expansion coupled with their battlefields. In view of this, a focus on our current headline will undoubtedly address our inquiry or concerns.
Meanwhile, the subject fintech isn’t other but a cross-border mobile money transfer platform that is based in the world’s biggest tech hub and has eventually established its presence in Nigeria. Based on this development, the San Francisco-based fintech has promised to offer its peer-to-peer payment service to its users in its newest market – Nigeria. However, the whole thing wasn’t just about expansion but the deal to partner with a gateway company – Paystak, ‘Shola Akinlade’ the CEO of Paystak confirmed the collaboration of both entities.
Going forward in this context, precisely in a more abstract sense, it’s good to know that the subject startup was founded by two students from Africa (a Ghanaian and Ugandan) in the United States, and have also established offices in Ghana and Kenya, while currently according to statistics, Chipper Cash confidently boast of 70,000 users. Hence, in a bid to establish its footprint in Africa’s most populous and largest economy, it has hired the co-founder of Gokada startup ‘Abiodun Animashaun’ as the country’s manager.
The subject startup according to reports had begun its operation in other five African markets, namely: Kenya, Ghana, Rwanda, Tanzania, and Uganda, dated October 2018 before its recent expansion to Nigeria. In view of this, it’s believed the company aims at scaling digital finance apps across the continent of Africa. While further on this, the company have made tremendous progress with its 70,000 active users been confirmed to have successfully processed 250,000 transactions without charges.
Yet, there is some unique about this fintech precisely about its current expansion, and this is based on the fact that the subject platform is simply a zero charges platform irrespective of the transaction and that proved to be very encouraging. While in addition to this, it was equally noted that ‘Chipper Checkout’ will be established in Nigeria, months after the subject fintech. And as for the former ‘Chipper Checkout’ is no other but a merchant-focused mobile payment product, which is operated by the company.
To ensure things are shaped proportionately while confirming its expansion in this trajectory, ‘Ham Serunjogi’ a co-founder of the startup made clear that “Nigeria is the largest and most populous country in Africa. Its fin-tech industry is one of the most advanced in Africa, up there with Kenya and South Africa”. And in addition:
“I think for any company doing fin-tech across borders, that is looking to be successful in Africa, it is imperative that you have a presence in Nigeria”.
Confirming the company’s position, it claimed more and more people are using ‘Chipper Cash’ as their preferred medium to move money, adding that they see no barriers to a height that could be attained.
- What is your take on Chipper Cash presence in Nigeria?