Yellow Card Financial, Africa’s largest and first licensed stablecoin on/off-ramp, has announced the successful closing of its Series C funding round, raising $33 million in equity financing. This significant milestone brings the company's total equity financing to $85 million. The funding round was led by Blockchain Capital, with notable participation from investors including Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital.

This latest round of funding demonstrates strong investor confidence in Yellow Card's vision of expanding access to digital assets across Africa and enhancing the utility of stablecoins on the continent.

Yellow Card's Pan-African Footprint

Since its inception in Nigeria in 2019, Yellow Card has grown into a leading fintech player with operations in 20 countries across Africa. The platform facilitates seamless access to stablecoins such as USDT, USDC, and PYUSD, providing businesses and individuals a reliable means of making international payments, managing treasury, and accessing liquidity via digital assets. To date, Yellow Card has processed over $3 billion in transactions across the continent, further solidifying its role as a key driver of financial innovation in Africa.

The company’s rapid growth highlights the increasing demand for alternative financial services in Africa, especially in a region where traditional banking systems are often inaccessible to large parts of the population. Stablecoins, in particular, have gained traction as a reliable means of transferring value, allowing users to hedge against currency volatility while benefiting from lower transaction costs.

Strategic Focus and Use of Funds

The Series C funding will fuel Yellow Card's expansion strategy, focusing on enhancing its API and on/off-ramp products. These solutions serve as gateways for both international companies, including Coinbase and Block, to tap into African markets and for African businesses to make cross-border payments efficiently. The platform’s API and widget products simplify the integration of stablecoins into various financial systems, empowering companies to manage their liquidity and execute payments with ease.

Additionally, the funds will be allocated toward the development of innovative products tailored for the African market. This includes building out more secure and scalable systems, expanding Yellow Card’s team, and engaging with regulators across multiple African jurisdictions to promote the adoption of stablecoins and foster an enabling environment for digital assets.

Chris Maurice, CEO and co-founder of Yellow Card, expressed his excitement over the funding round, stating, "This fundraise not only demonstrates our resilience but also highlights the vital role of digital assets for businesses across Africa. We are excited about the opportunities, partnerships, and journey ahead, and I'm proud to work with an incredible cohort of investors that share our vision for the industry and the continent."

Investor Confidence in Africa’s Digital Economy

The participation of high-profile investors in this Series C round underscores the growing confidence in Africa’s fintech landscape. Blockchain Capital, which led the round, emphasized the importance of Yellow Card's mission to bring Africa on-chain with stablecoins, offering businesses and individuals fast, affordable, and reliable payment rails.

Aleks Larsen, General Partner at Blockchain Capital, commented on the deal, stating, "The future of payments lies in fast, affordable rails for everyone, powered by open networks. We couldn’t be more excited to back Yellow Card as they bring Africa on-chain with stablecoins."

This endorsement from both new and existing investors highlights the company’s growing influence in the region, as well as the potential for further innovation in the use of stablecoins for cross-border payments, remittances, and treasury management.

A Commitment to Financial Empowerment

Yellow Card’s mission is to empower African businesses of all sizes by providing accessible, cost-effective, and secure solutions for managing international payments and liquidity. By leveraging stablecoins, Yellow Card enables companies to navigate the complexities of cross-border transactions while reducing reliance on traditional banking systems, which can be costly and inefficient.

The company remains committed to fostering financial inclusion and economic growth across the continent, ensuring that businesses have the tools they need to succeed in an increasingly digital world.

With the closing of its $33 million Series C funding round, Yellow Card is poised to accelerate its growth and continue leading the charge in Africa’s fintech revolution. By enhancing its products, expanding its market reach, and deepening engagement with regulators, the company is well-positioned to drive the adoption of stablecoins across the continent and provide African businesses with the financial tools they need to thrive in a global economy.

As Africa's largest and first licensed stablecoin platform, Yellow Card is not only transforming how businesses manage their financial operations but also contributing to the broader goal of economic empowerment through digital innovation. With the support of a strong investor base and a clear strategic vision, Yellow Card’s future looks bright as it continues to shape the future of financial services in Africa.