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Kenyan fintech Cellulant sells $47.5M stake to American investors

Published on May 16, 2018

The Rise Fund, a global impact investing fund managed by growth equity platform TPG Growth, has announced that it has signed an agreement to acquire a stake in Cellulant, a leading digital payments provider that reaches 40 million people across 11 African countries. The Rise Fund is investing alongside Endeavor Catalyst, Satya Capital, Velocity Capital & Progression Africa.

The deal is the largest of its kind dedicated solely to Africa’s fintech and payments space, competitively positioning Cellulant in a fast-growing sector where it already enjoys an early mover advantage. Read more. Source | The Exchange