Chipper Cash, one of Africa’s more prominent fintech companies, and unicorns allegedly considered selling the company or seeking new investors.
This information was disclosed in a report published by Bloomberg on Wednesday.
This news comes after Chipper Cash laid off more than 150 employees since December 2022 and may face a drop in valuation if it raises money this year.
In response to these claims, Chipper Cash released an official statement saying that they have received various M&A proposals from different parties that they evaluate as needed but have never sought out acquisitions themselves. The source who spoke with Bloomberg also noted that SVB’s collapse is not responsible for these developments and the company could continue as it is; however, going public looks unlikely at this time.
However, while there are still many unknown factors surrounding what will happen with Chipper Cash in the future, its current situation indicates an uncertain outlook for one of Africa’s premier fintech companies and unicorns alike, especially due to potential drops in their estimated $2 billion valuation when raising money later this year.
