Cellulant

paymentssoftware/whitelabel/apis-paymentspayment gatewaysmobile/digital wallet

FOUNDING YEAR: 2004
LOCATION: Kenya
Last Update: 17/07/2020

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About

We are a leading Pan-African technology company whose payments gateway powers and organises Africa's Marketplace by connecting buyers, sellers and other critical stakeholders with an underlying payments solution that enables them to make and receive payments. We provide a single digital payments platform that runs an ecosystem of consumers, retailers, merchants, banks, mobile network operators, Governments and International Development Partners. Today we serve about 120 banks such as Barclays, Standard Chartered, Ecobank, Standard Bank etc. across several markets; 40 mobile network operators including Safaricom, Econet and MTN, 600 local and international merchants including Opera, Transfertoo, Dstv, Dangote Rice, Kenya Airways.Today, Cellulants payments platform spans 1 in 10 Africans, with 2.5 million doing monthly transactions. Cellulants coverage extends to 50% of banks in Africa and 17 million unbanked farmers in Africa. Cellulant debuted operations in Kenya and Nigeria in 2004 and has grown to operate across 11 African countries, including Zambia, Ghana, Zimbabwe, Tanzania, Uganda, Botswana, Mozambique, Malawi, Rwanda and a combined team of up to 400 people.

MEDICI Analysis

Cellulant is a digital payments service provider that prompts, collects, settles and reconciles payments in real time is using mobile wallets to empower farmers across Africa as well as powering transactions for millions of merchants and utility facilities across Africa. It provides a mobile payment ecosystem connecting consumers, merchants, banks etc.

company provided insights

Focus

People

FOUNDERS

Andrej Machacek

Bolaji Akinboro

NUMBER OF EMPLOYEES

201-500

INVESTORS:

Endeavor Catalyst

Satya Capital

The Rise Fund

TPG Growth

Velocity Capital & Progression Africa

Velocity Capital Private Equity

KEY EMPLOYEES:

Ken Njoroge

Momentum

FUNDED

YES

TOTAL FUNDING

$56 M

DATE OF LAST FUNDING

May 2018

TOTAL FUNDING COMMENT

The company will use the fund to expand its Digital Payments Across Africa(May 2018).

SEED & PRIOR FUNDING

$1.5 M

SEED CLOSED ON

Oct 2011

FUNDING SERIES

SERIES B  · $5.5 M  · Feb 2014

SERIES C  · $47.5 M  · May 2018

OTHERS  · $1.5 M · Oct 2011

LISTED

NO

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