Yellow Card co-founders Chris Maurice (CEO) and Justin Poiroux (CTO).

Yellow Card, Africa's licensed Stablecoin on/off ramp, today announced the completion of its series C fundraising.

Blockchain Capital led the US $33 million equity fundraising, which included Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital.

Yellow Card said in a statement this financing is a key milestone for the company and the African fintech industry as a whole, as it validates the continent's Stablecoin ambition and growth.

This newly secured capital will be used to fund growth and expansion, particularly to improve Yellow Card's API and widget products, which serve as gateways for international businesses (including Coinbase and Block) to enter African markets and for pan-African companies to easily make international payments and manage their treasury using Stablecoins.

Yellow Card is also developing innovative new products for the continent, strengthening its staff and systems, and continuing to drive engagement with regulators across the continent.

Since its launch in Nigeria in 2019, Yellow Card has established itself in the fintech sector, with operations in 20 African countries and over $3 billion in transactions facilitated across the continent.

“This fundraise not only demonstrates our resilience, but also highlights the vital role of digital assets for businesses across Africa,” said Chris Maurice, CEO and co-founder of Yellow Card.

“The future of payments lies in fast, affordable rails for everyone, powered by open networks,” said Aleks Larsen, general partner at Blockchain Capital, the lead investor in Yellow Card’s Series C financing. “We couldn’t be more excited to back Yellow Card as they bring Africa on-chain with Stablecoins.”