Nigeria-based crypto startup Yellow Card has hit the one million user mark within three years of its launch, with uptake across 16 African markets.
Formed in 2018 and launched in Nigeria in 2019, Yellow Card makes it easy for anyone, anywhere in Africa, to buy cryptocurrencies like Bitcoin, Ethereum and USDT Stablecoin using cash, mobile money, card, or bank transfer. The company claims to be “building a new financial infrastructure for the African continent”.
As reported last year the startup had raised US$15 million in Series A funding to ramp up hiring and continue its expansion across the continent, and in May it made Ivory Coast its 16th market.
Yellow Card, which also recently launched a payments service, has just announced it passed the one million user mark back in March, a milestone chief marketing officer (CMO) John Colson said strengthened the company’s brand on the continent as well as trust among current and future users. It also inspires investor confidence, especially at a time when Yellow Card seeks to expand into more regions.
“Reaching the one million goal is fantastic. It was a massive goal that we set for ourselves, and the team rallied to make it happen. Although it was not an easy journey, it has been a very rewarding one. This showed us that we are on the right track, people value what we are building, and it’s solving a need. Over one million people have trusted Yellow Card, and now it’s our turn to show why it is the number one place for crypto in Africa,” he said.