African crypto startup Yellow Card has completed a $33 million Series C funding round, led by Blockchain Capital.

African cryptocurrency startup Yellow Card has completed a $33 million Series C financing round, led by Blockchain Capital. Founded in 2019, Yellow Card initially focused on providing cryptocurrency and stablecoin services to retail customers in 20 African countries. However, the company has recently shifted its focus toward B2B operations. Yellow Card's CEO, Chris Maurice, stated that the company currently serves approximately 30,000 businesses, helping them with payment and financial management primarily through stablecoins. This round of financing also attracted participation from investors such as Polychain Capital, Block Inc., and Winklevoss Capital. Yellow Card plans to use these funds to develop new products, strengthen its team and system infrastructure, and continue engaging with regulators across African nations. Maurice believes that African regulators have a better understanding and level of innovation with cryptocurrency technology compared to other regions, creating a relatively friendly environment for industry development.