Chipper Cash, a fintech company that helps people transfer money in Africa, is back in action for its users in the United States after a break of two months.
They had to stop their services earlier this year because of a problem with a banking partner. But now, their CEO, Ham Serunjogi, says they’ve found a new partner and can start again.
This is good news for people who use Chipper Cash to send money to their families in Africa. The company has improved its system to make it easier for users to add money to their accounts. Serunjogi mentioned, they believe they’ve made it simpler by giving specific bank details for transfers from the US to Africa.
If you’re already using Chipper Cash, don’t forget to update your app and confirm your account before sending money again.
Chipper Cash started working in the US in December 2022 and quickly covered most of the country. They partnered with big banks to reach places they couldn’t on their own. Although they had to pause their plans for more expansion recently, they’re looking to continue growing soon.
Before this relaunch, Chipper Cash had to let go of 20 employees in the US and UK to save money. Serunjogi explained in a statement that the US was never their main focus, just an extra service alongside Africa.
According to the CEO, these changes will help Chipper Cash make a profit by the middle of 2024. “Gaining control of our operations provides a competitive advantage and allows for greater efficiency,” he added.
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