Digital payment app Chipper Cash has acquired Zambian Fintech Company Zoona Transactions International, further extending its digital footprint across the African continent.
Cross-border payment provider, Chipper Cash seeks to acquire Zambian FinTech Zoona Transactions International, Chipper Cash Chief Executive Officer Ham Serunjogi said.
“Excited to announce that Chipper Cash is acquiring Zoona – a true pioneer of Africa’s Fintech industry. This will allow us to better serve individuals and businesses while also expanding our physical footprint across the continent,” Serunjogi wrote on Twitter.
The deal, subject to authorities’ approval, would bring to Chipper Cash new online services, a new agent network and entry to Zambia, TechCabal reported Friday (Nov. 18).
In a Friday post on LinkedIn, Chipper Cash wrote: “In exciting news, today we announced the intended acquisition of the Zoona group, which includes all services under the Tilt Africa brand.”
The deal would bring together complementary products and services, allow the two companies to connect consumers and businesses across Africa, and position them as the “first choice provider of financial services” on the continent, according to reports.
Zoona’s Tilt service has processed over $3 billion worth of transactions since its launch in 2008, according to the report.
Chipper Cash offers fee-free personal and cross-border payment to Africa and is available in Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, Kenya, the United Kingdom and the United States, the report said.
Earlier that year, the startup moved into social payments via a partnership with Twitter, using its Tip Jar-enabled African users to tip directly on the platform.
At the time, Chipper Cash had more than 4 million users and said it was on a mission to make transferring money as simple as sending a text message.
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