Chipper Cash Expands Physical Footprint in Zambia, Acquires Zambian Fintech Firm Zoona

Cross-border payments app Chipper Cash has expanded its footprint to the South-Central African country Zambia, after it announced the acquisition of Zambian fintech firm Zoona.

Aside from its expansion strategy into other parts of Africa, through its recent acquisition of Zoona, Chipper Cash seeks to improve its services by adding new online services and a new agent network to its offerings, as partnering with Zoona will enable both firms to offer quality financial services.

Speaking on the firm’s acquisition of Zoona, VP of Corporate Development at Chipper Cash, Laura Kennedy said, “Bringing these companies together under the Chipper umbrella will mean we can open up even more borders, bringing quality financial services to life in more countries and connecting more people across the continent”.

Also commenting on the acquisition is Zoona’s co-founder and CEO, Brett Magrath, he said “this acquisition allows the two companies to combine their expertise to connect consumers and businesses across the continent while positioning themselves as the first choice provider of financial services for the people of Africa.

“Working together, we can combine our expertise to connect consumers and businesses across the continent, positioning ourselves as the first choice provider for financial services for the people of Africa.”

Currently, Chipper Cash offers customers free transfers and the lowest cross-border rates, with its operations in six (6) countries which include; Nigeria, Uganda, Ghana, South Africa, the UK, and the U.S.

Its latest acquisition of Zoona will see it expand its operations in Zambia, as both companies also complement each other’s shared products such as API, disbursements, and transfer solutions.

Chipper also highlighted Zoona’s Tilt service which enables payments and transfers to any bank or mobile money provider in Zambia via any cash or digital channel, plus a network of more than 450 interoperable agents.

The company said, “Zoona, together with the highly respected Tilt brand, offers incredible innovation, a great partner network, complementary products and services, and talented in-country teams.”

Founded in 2009, Zoona is on a mission to become Zambia’s Number one interoperable fintech service and has so far processed funds totaling more than $3 billion in value, with a revenue of $37.00 million.

Working together with Chipper Cash will enable both firms to bring together their expertise to provide quality services to customers across the African continent.