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Forbes African FinTech Company Cellulant Raises $47.5 Million
submitted 5 months, 1 week ago by emc

Cellulant, a leading Pan-African digital payments service provider that prompts, collects, settles and reconciles payments in real time, has raised $47.5 million from a consortium of investors that include the Rise Fund, the impact fund run by private equity group TPG Growth, Endeavour Catalyst and Satya Capital, the private equity firm owned by Sudanese-British billionaire Mo Ibrahim.

Cellulant plans to plough the new capital into scaling up the company’s operations and expanding into two African countries this year. The company will also channel a significant portion of the funds into Agrikore, its blockchain based smart-contracting, payments and marketplace system that ensures that everyone in agriculture (Farmers, FMCGs, Agriculture inputs providers, produce aggregators, insurance companies, financial institutions, governments, development partners) can do business with each other in a trusted environment.





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