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Yellow Card

Yellow Card is a cryptocurrency exchange that allows users to buy and sell Bitcoin using various payment options. It also offers a Bitcoin wallet for sending, receiving, and storing cryptocurrencies.

Seed Round: $1.5M

Series A Round: $15M

Series B Round: $40M

Series C Round: $33M

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Overview

Project industryFinance Services & Banking / Business Services & Consulting / Blockchain Infrastructure / Exchanges & Wallets / DeFi / RWA
Product typeOrganization
FoundedUnited States
WhitepaperYellow Card White Paper Open

What is Yellow Card

Yellow Card serves as a payment rail in 20 African countries, allowing customers to easily move money across borders while paying a fraction of the fees associated with traditional money transfers. With its new funding, the company is looking to grow its customer base and expand to other countries, like Ethiopia, Egypt and Morocco, which is considering new legislation opening them up further to digital currencies.

The company, founded in 2016, uses stablecoins, which are usually tied to the value of the US dollar, as a common medium of exchange in order to enable smoother transactions. When customers deposit local currency with Yellow Card, they receive stablecoins like USDT and USDC, which customers can then use to send money around the world in other currencies using the Yellow Card platform.

While many currencies in Africa are unstable or have seen their values plummet relative to the US dollar, making them undesirable to hold, Yellow Card has found a way to trade in local currencies with reduced risk. The startup says that capability has essentially made it a market maker for African currency transactions.

Details

Raised: 89,500,000 USD

Legal

Registration country: Nigeria
Registration year: 2016

Yellow Card Roadmap

1
2016

Yellow Card is founded by Chris Maurice, Chief Executive Officer and Justin Poiroux, chief Technology Officer.

2
2019

We launched in Nigeria, the first of 20 countries on the African continent.

3
2020

Yellow Card nets $1.5M in seed round, with noteworthy investors such as Polychain and Celo.

4
2021

We launched the Yellow Card Academy, as part of our commitment to improving financial literacy in Africa.

5
2022

We revealed our refresh as we reached 1M customers, and became the first company in Africa with a VASP license in Botswana.

6
2023

We reached 1.7M customers and launched the Payments API to connect businesses to local fiat on/off ramps across Africa.

Project team

Justin Poiroux
Justin Poiroux
Chief Technology Officer
Justin Poiroux linkedin
Craig Stoehr
Craig Stoehr
General Counsel
Craig Stoehr linkedin
Jason Marshall
Jason Marshall
Chief Operations Officer
Jason Marshall linkedin
Mika Thompson
Mika Thompson
VP Finance, Accounting & Tax
Mika Thompson linkedin
Micha Katz
Micha Katz
Chief Information Security Officer
Micha Katz linkedin
Mandy Naidoo
Mandy Naidoo
Chief Compliance Officer
Mandy Naidoo linkedin
Lasbery Oludimu
Lasbery Oludimu
Vice President of Operations
Lasbery Oludimu linkedin
Chris Maurice
Chris Maurice
Chief Executive Officer
Chris Maurice linkedin
John Colson
John Colson
Chief Marketing Officer
John Colson linkedin
Gillian Darko
Gillian Darko
Chief of Staff & Director of Strategy
Gillian Darko linkedin
Richard Schoeman
Richard Schoeman
VP Finance & Treasury
Richard Schoeman linkedin

Social media

Yellow Card web-siteYellow Card MediumYellow CardYouTubeYellow Card InstagramYellow Card LinkedInYellow Card X (Twitter)Yellow Card FacebookYellow Card Github

MVP

MVP URLApp storeGoogle Play

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