ATLANTA – September 19, 2022 — Morris, Manning & Martin advised Pan-African cryptocurrency exchange Yellow Card Financial in its $40 million Series B funding round. Forbes magazine reported that the crypto company intends to expand into new markets by setting up shops in more African countries and offering ways for people to get more out of their crypto assets.
Blockchain venture capital firm Polychain Capital led the round. Other participants include Castle Island, DG Daiwa Ventures, Fabric Ventures, Sozo Venture, Third Prime, The Raba Partnership and Valar Ventures. Yellow Card has now raised $57 million in total, making it one of the most-funded Web3 startups in Africa. It launched in Nigeria in 2019. Since closing its $15 million Series A in 2021, Yellow Card expanded its operation to four additional African countries — taking its total service coverage to 16 markets across the continent.
The MMM team is led by Nick Foreste with Matt Miehl and Sarah Moy in Atlanta.
