Yellow Card

The firm has since pivoted from a retail-focused model to concentrate on business-to-business (B2B) services, a strategic shift driven by higher demand and profitability in the enterprise segment. This move was supported by significant funding, including a $15 million Series A in 2021, a $40 million Series B in 2023, and a $33 million Series C in 2024, bringing its total equity financing to at least $88 million. Investors include prominent names like Blockchain Capital, Polychain Capital, and Coinbase Ventures.

Yellow Card's core business involves providing the infrastructure for companies to conduct international payments, manage treasury operations, and access USD liquidity using stablecoins such as USDT, USDC, and PYUSD. It serves a diverse clientele including banks, financial institutions, importers/exporters, and other fintech companies. Revenue is generated by facilitating these transactions, which have seen substantial growth, with transaction volumes surpassing $3 billion. The company's Payments API allows businesses to embed a seamless payment system directly into their platforms, enabling customers to make deposits and withdrawals in their local currencies. This service helps businesses expand their reach across the African continent and other emerging markets, while also offering protection against local currency inflation and volatility by allowing them to hold funds in stablecoins.

Operating in over 20 countries, Yellow Card has become a licensed stablecoin on/off-ramp in Africa. The company has secured partnerships with major financial players like Coinbase and Visa to enhance its service offerings, such as enabling easier access to USDC for Coinbase wallet users in Africa and expanding Visa's stablecoin settlement solutions. The company also prioritizes regulatory engagement and financial literacy, having obtained a Virtual Asset Service Provider license in Botswana and offering educational resources through its Yellow Card Academy.