Jack Dorsey Yellow Card Largest Bitcoin Venture Capital Round In Africa


Yellow Card, a Pan-African bitcoin exchange, announced yesterday that it raised $15 million in a Series A funding round led by Valar Ventures, Third Prime, and Castle Island Ventures, reported Forbes. Jack Dorsey’s Square, Coinbase Ventures, and Blockchain.com Ventures also participated in the round, helping fund the exchange’s operations in 12 countries across the African continent. Third Prime got a seat on the company’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,” said James Fitzgerald, a founding partner 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.”

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