Yellow Card, an African crypto exchange, has just raised $40 million in a Series B funding round led by venture capital firm Polychain Capital.
According to the press release shared by the company, other participants in the round include Valar Ventures, Third Prime Ventures, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, The Raba Partnership and others.
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Chris Maurice, CEO and co-founder of the platform, has said:
"This fundraise in this market not only showcases the resilience of our team but also reiterates the appetite and necessity for cryptocurrency in Africa."
The funds will reportedly be used to expand activities, create new products and establish partnerships.
The crypto exchange was launched back in 2019 and already has a presence in 21 countries.