TechFlow news, October 17 — According to TechCrunch, Yellow Card, a leading cryptocurrency platform in Africa, has announced the completion of a $33 million Series C funding round led by Blockchain Capital. This brings Yellow Card's total funding to at least $88 million.
Founded in 2019, Yellow Card initially focused on providing cryptocurrency and stablecoin services to retail customers across 20 African countries. However, the company has recently shifted its focus toward B2B operations. Chris Maurice, CEO of Yellow Card, said the company now primarily serves approximately 30,000 businesses, helping them with payments and financial management, largely through the use of stablecoins.
The round also attracted participation from investors including Polychain Capital, Block Inc., and Winklevoss Capital. Yellow Card plans to use the funds to develop new products, strengthen its team and systems, and continue engaging with regulators across African countries. Maurice noted that African regulators demonstrate a higher level of understanding and openness toward crypto innovation compared to other regions, creating a relatively favorable environment for industry growth.
