Cellulant
| ISIN | 🆔 |
|---|---|
| Industry | Financial services |
| Founded 📆 | 2004 |
| Founder 👔 |
|
| Headquarters 🏙️ | Nairobi, Kenya |
Number of locations | 11 |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | cellulant |
| 📇 Address | |
| 📞 telephone | |
Cellulant is a pan-African payments company that provides seamless payment collections, settlements, and regulations.[1][2][3]
History
The company was founded in 2004 by Ken Njoroge[4] and Bolaji Akinboro.[5][6]
Cellulant launched its Lipuka platform in 2004, offering subscribers the ability to download ringtones while ensuring that artists received royalties.[7] Over the years, the company expanded its services to include a mobile wallet for major banks, agency banking, money transfer, and bill payments.[8] Cellulant also expanded its operations to Zambia, Botswana, and Ghana.[9]
Cellulant delivered the Liberia[10] Agricultural Transformation Agenda in 2016, and within 100 days, it accessed $4.6 million from 350,000 registered farmers.[11]
In 2017, Cellulant launched Mula, a mobile money app, which rebranded to Tingg on October 8, 2019.[12] The company also launched Agrikore in 2019 to provide a blockchain-based payment and online marketplace system for smallholder farmers and agricultural inputs that enables traders to tackle inefficient agricultural markets.[13][14]
In 2020, Cellulant and its co-founder and former CEO, Bolaji Akinboro, were involved in a legal dispute over allegations of mismanagement and financial impropriety. The dispute was resolved through a mediated settlement in March 2023, which brought an end to all litigation and claims between Cellulant and Akinboro.[15][16]
Investments and partnerships
Cellulant expanded its services to Ghana in 2003 by partnering with Spacefon, a mobile provider.
In 2005, the company extended its reach to 8 million customers by offering value-added services through Nation for Nation Mobile.
In 2017, Cellulant joined the Endeavour Global Entrepreneurs Network, which is a movement for entrepreneurs.
In 2018, the company raised $47.5 million from investors such as the Rise Fund, Endeavour Catalyst, and Satya Capital.[17][18]
In 2019, Cellulant announced partnerships with Adyen, a global payments company; PayU, a fintech company; and Stanbic Bank. Other investors in Cellulant include Velocity Capital, Progression Africa, Velocity Capital Private Equity, and TBL Mirror Fund.
Awards and recognitions
- In 2007, Cellulant’s first mobile banking solution was selected as one of the top 10 medium-sized company finalists at the Legatum Pioneers of Prosperity Africa Awards.[19]
- Cellulant was credited with the Fintech 100 award for Best Payments and Transfer Fintech in Africa in 2016.
- In 2017, Cellulant was recognized as one of the ‘Companies to Inspire Africa’ by the London Stock Exchange Group.
- Cellulant received the Company of the Year award at the African Diaspora Awards in New York City in December 2017.
- Most Innovative Payment Service Provider of the year 2022 - National Communications Awards (Ghana)
- Fintech Company of the Year 2022 - Ghana Information Technology and Telecom Awards (GITTA)
References
- ↑ "Cellulant - Disrupting Africa". disruptingafrica.com. Retrieved 23 March 2023.
- ↑ "cellulant". africaoutlookmag.com. Retrieved 23 March 2023.
- ↑ "kenyas-cellulant-lost-six-staffers-in-nairobi-riverside-attack". qz.com. Retrieved 23 March 2023.
- ↑ "ken-njoroge". endeavor.org. Retrieved 23 March 2023.
- ↑ "bolaji-akinboro". endeavor.org. Retrieved 23 March 2023.
- ↑ Bradford, Mark (8 May 2014). "The 10 African cities poised for take-off". How we made it in Africa. Retrieved 23 March 2023.
- ↑ "MicroCapital Monitor". MicroCapital. Retrieved 23 March 2023.
- ↑ "Cellulant-on-global-list-of-top-innovators". businessdailyafrica.com. Retrieved 23 March 2023.
- ↑ "tingg-africas-first-payments-super-app-unveiled-in-8-countries-by-cellulant". techmoran.com. Retrieved 23 March 2023.
- ↑ "Liberia". www.ifad.org. Retrieved 23 March 2023.
- ↑ "press-release-digital-payments-firm-cellulant-listed-on-the-prestigious-kpmgs". techzim.co.zw. Retrieved 23 March 2023.
- ↑ Musoba, James (14 September 2021). "Why a user should invest in crypto and factors to be taken care off". TechMoran. Retrieved 23 March 2023.
- ↑ Njanja, Annie (6 December 2021). "MarketForce partners with Cellulant to expand in five new markets across Africa as it races to cover continent". TechCrunch. Retrieved 23 March 2023.
- ↑ "agrikore-going-live-how-does-compare-libra-akinboro/Article". linkedin.com. Retrieved 23 March 2023.
- ↑ "These 10 Companies Currently Pay The Highest Amount Of Tax In Nigeria". WeeTracker. 24 September 2019. Retrieved 23 March 2023.
- ↑ "Adyen expands payment offering to Africa with Celullant partnership". thepaypers.com. Retrieved 23 March 2023.
- ↑ Nsehe, Mfonobong. "African FinTech Company Cellulant Raises $47.5 Million". Forbes. Retrieved 23 March 2023.
- ↑ Ayala, Tatiana (12 February 2019). "Cellulant - From $3000 and a napkin to a $47.5 million". socialfintech.org. Retrieved 23 March 2023.
- ↑ "cellulant-receives-africa-business-continuity-institutes-award-for-its-resilience". techmoran.com. Retrieved 23 March 2023.
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