Yellow Card, a Nigeria based crypto startup announced in a tweet that it raised $1.5 million through many investors including, Polychain, Andreessen Horowitz, and Celo Ecosystem Fund. The startup claims that the fund will be utilized to expand its services in Africa to facilitate the people to buy and sell crypto-assets.
Yellow Card permits users to fund their accounts through cash, bank transfer, and credit card, depending on the availability of payment methods. Yellow Card provides multi-payment options to buy and sell crypto-assets with the lowest fees.
The Yellow Card company is eager to become the high ranking crypto exchange across the African continent. Currently, the company provides its services in various countries across Africa, including Nigeria, South Africa, Botswana, Lesotho, Namibia, and Eswatini. The company will initiate its services to other African countries like Kenya and Cameroon from the 1st of September.
Moreover, in the statement, the company announced that ex-senior director of payment services at Walmart, Jason Marshall has joined Yellow Card as a Chief Operating Officer.
After expanding the services to South Africa and Botswana, the company added over 30,000 new vendors to its Yellow card platform and hoping more after its entrance to Kenya and Cameroon.
The company was established by Chris Maurice and Justin Poiroux in 2016. Yellow Card is a regulated financial startup, listed on Coinmarketcap, and is required to provide some specific information before using the services. The identity document may include any govt-issued valid documents, passport, or driving license.