New Venture Accelerator start-up Yellow Card secures $15 million Series A funding

Published: September 30, 2021

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The founders of Yellow Card, the leading cryptocurrency exchange on the African continent, were some of the first participants in what is now known as the New Venture Accelerator, or NVA, at Auburn’s Harbert College of Business. The three-year-old company’s mission of facilitating the free flow of money to, from and within African nations was barely a rough concept way back then—the two former Auburn University students, Chris Maurice and Justin Poiroux were simply exploring how to make a little money in the early days of the cryptocurrency industry.

Fast forward to Yellow Card’s recent round of $15 million Series A financing led by Valar Ventures, Third Prime and Castle Island Ventures, where Square, Inc., Ventures, Coinbase Ventures, Polychain Capital, BlockFi, Fabric Ventures, Raba Partnership, MoonPay, GreenHouse Capital and others also participated. The new funding is accelerating the company’s expansion of cryptocurrency exchanges in 12 African countries—with additional nations about to come on board. With more than 100 employees—more than 95% of them in Africa—Yellow Card is experiencing the kind of explosive, profitable growth that exemplifies what can be accomplished when an innovative vision meets the expertise, resources and support services offered by the Auburn NVA’s dedicated team of entrepreneurial business experts.

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Submitted by: Michael Ares