A First Unicorn Startup in the List of Ukrainian “Flyer One Venture”

by Meifan Honcharuk
Thursday, November 11, 2021
2 MIN

African startup "Chipper Cash" with Ukrainian investments became a unicorn

Flyer One Ventures (formerly Genesis Investments), a Ukrainian venture capital fund, now has its first unicorn startup in its portfolio. This is the African project Chipper Cash, which develops a payment system. 

More about Chipper Cash 

Chipper Cash raised $150 million in round C, led by FTX cryptocurrency platform. The company was valued at over $2 billion in this round.

According to Vitaly Laptenok, managing partner of Flyer One Venture, the fund entered the startup relatively late, but this did not prevent it from earning x3 in six months.

The startup raised this round six months after the first $100 C round with the lead investor SVB CapitalSVB co-invested with Deciens CapitalRibbit Capital, Bezos Expeditions, One Way Ventures, and Tribe Capital in that round.

The startup was founded in 2018 to develop an international peer-to-peer payment system. It is already in use in several African countries, including Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya.

What is a unicorn startup?

 A unicorn is a privately held startup company worth over $1 billion, examples of which are:

  • Uber ($68 billion);
  • Didi Chuxing ($56 billion);
  • Xiomi ($46 billion);
  • Meituan Dianping ($30 billion);
  • Airbnb ($29.3 billion).

More about Flyer One Ventures

As the largest international IT grocery company, Flyer One Ventures created a whole ecosystem that grows startups, makes big profits and invests in new projects.

A Ukrainian venture fund focused on supporting startups from Eastern Europe in the seed and series A. Flyer One Ventures invests in mobile technologies, education, healthcare, artificial intelligence, machine learning and B2B SaaS.

The fund was founded in 2018 and is headquartered in Kyiv. The fund was formerly called Genesis Investments, and during the rebranding in 2021, it changed its logo and name to Flyer One Ventures.

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