Yellow Card, a Pan-African bitcoin change, introduced yesterday that it raised $15 million in a Series A funding spherical led by Valar Ventures, Third Prime, and Castle Island Ventures, reported Forbes. Jack Dorsey’s Square, Coinbase Ventures, and Blockchain.com Ventures additionally participated within the spherical, serving to fund the change’s operations in 12 nations throughout the African continent. Third Prime obtained a seat on the corporate’s board.
“Many African countries adopted mobile phones without ever distributing landlines at scale, and many African countries adopted mobile payments without ever distributing credit and debit cards at scale,” mentioned James Fitzgerald, a founding associate at Valar Ventures, per the report. “We see a similar opportunity for crypto; it can enable Africans to leapfrog an entire generation of financial services technology.”