Changes

Jump to: navigation, search

Cellulant

No change in size, 10:13, 3 December 2019
no edit summary
| locations = Botswana, Ghana, Kenya, Nigeria, Malawi, Mozambique, Uganda, Tanzania, Zimbabwe and Zambia}}
<span style="font-size:88%">''Editor: [https://www.linkedin.com/in/charissa-cassels/ Charissa Cassels]''</span>
 
Cellulant is a Nairobi-based digital payment service provider that collects, settles and regulates payments in real-time.<ref>[https://www.forbes.com/sites/mfonobongnsehe/2018/05/14/african-fintech-company-cellulant-raises-47-5-million/#73bdf5d97efb/African FinTech Company Cellulant Raises $47.5 million - Forbes. Retrieved 5 November, 2019.]</ref> It is a payment gateway that connects buyers, sellers and other stakeholders enabling them to make and receive payments. Cellulant serves banks, markets, mobile network operators and local and international merchants.<ref>[https://za.linkedin.com/company/cellulant/Cellulant - LinkedIn. Retrieved 5 November, 2019.]</ref>
Cellulant digitises payments for Africa’s largest economies, through targeting regions where financial inclusion is restricted and to ensure that mobile money is provided as an alternative to traditional banking. <ref>[https://endeavor.org/entrepreneur/ken-njoroge/Ken Njoroge - Endeavor. Retrieved 12 November, 2019.]</ref>Cellulant started its targeting through its Lipuka platform, Tingg app, and its Agrikore online platform. It operates in Botswana, Ghana, Kenya, Nigeria, Malawi, Mozambique, Uganda, Tanzania, Zimbabwe and Zambia.<ref>[https://www.africaoutlookmag.com/outlook-features/cellulant/Cellulant - Africa Outlook Magazine. Retrieved 12 November, 2019.]</ref> [[Ken Njoroge ]] and Bolaji Akinboro conceptualized Cellulant on a napkin in 2001 and founded Cellulant Corporation in 2004. Njoroge and Akinboro are both CEO and Co-Founders of Cellulant.<ref>[https://www.howwemadeitinafrica.com/the-journey-so-far-ken-njoroge-ceo-cellulant-corporation/61806/The journey so far: Ken Njoroge, CEO, Cellulant Corporation - How We Made It In Africa. Retrieved 11 November, 2019.]</ref>
== History ==
The Lipuka platform was launched in 2004, allowing subscribers to download their favourite ringtones while ensuring that artists earn royalties, paid to them by Cellulant. <ref>[https://www.kassfm.co.ke/home/2018/11/26/cellulant-and-stanbic-to-enable-artistes-access-loan-facilities-from-skiza-ringtone-royalties/Cellulant and Stanbic to enable Artistes Access Loans Facilities from, SKIZA Ringtone Royalties - KassFM. Retrieved 12 November, 2019.]</ref> The first mobile wallet for most major banks to run with or without internet connectivity was launched in 2009. Agency banking, money transfers, and bill payments were added to the Lipuka platform in 2010.
In 2016, Cellulant delivered the Liberia Agricultural Transformation Agenda that contributes to economic resilience and inclusivity.<ref>[https://www.ifad.org/documents/38714170/39150184/Investing+in+rural+people+in+Liberia_f.pdf/0d3bdf17-46a8-48a3-8d21-a021ea8a3165/Liberia - IFAD. Retrieved 11 November, 2019.]</ref>In the same year, Cellulant had 350k farmers registered within 100 days and accessed $4.6M.  Mula, a consumer product, was launched in Kenya, Tanzania, Ghana, Uganda, Zambia, and Mozambique in 2017 and on 8 October 2019, Mula rebranded to Tingg.<ref>[https://www.cellulant.com/our-story/From a business model scribbled on a napkin to a world-class business - Cellulant. Retrieved 4 November, 2019.]</ref>
Mula, a consumer product, was launched in Kenya, Tanzania, Ghana, Uganda, Zambia, and Mozambique in 2017 and on 8 October 2019, Mula rebranded to Tingg. <ref>[https://www.cellulant.com/our-story/From a business model scribbled on a napkin to a world-class business - Cellulant. Retrieved 4 November, 2019.]</ref>
Tingg, Cellulant’s mobile money app, ensures access to fast, secure and cost-friendly payments. Users are able to make and receive card and bank payments, save, borrow and promote their business on a single platform. Tingg can be accessed by dialling *369# or downloading the app. It is available in Nigeria, Kenya, Ghana, Uganda, Tanzania, Mozambique, Zambia and Botswana. <ref>[https://techmoran.com/2019/10/08/tingg-africas-first-payments-super-app-unveiled-in-8-countries-by-cellulant/Tingg, Africa’s first payments super app unveiled in 8 countries by Cellulant - Techmoran. Retrieved 5 November, 2019.]</ref>
The GES e-wallet service is one of Cellulant’s Agritech solutions, where purchases and distributions of agricultural inputs are electronically distributed to registered farmers. Registered farmers are guaranteed redeemable e-wallet vouchers for fertilisers, seeds and other agricultural necessities at half the cost as the other half was paid by the Federal Government of Nigeria. 14.5 million farmers registered, over $30Bn was contributed to the Nigerian GDP and the farmers’ income increased from $700 to $1800.<ref>[https://www.cellulant.com/our-story/From a business model scribbled on a napkin to a world-class business - Cellulant. Retrieved 4 November, 2019.]</ref>
The Cellulant wallet reminds customers of due payments and provides updates on their expenditures. Its services include balance inquiries and banks to mobile wallet transfers.  
The Cellulant Payment Gateway provides a secure end-to-end channel for merchants allowing mobile users to pay for merchant services.<ref>[https://www.cellulant.com/services/The Payments Platform for businesses on the move - Cellulant. Retrieved 4 November, 2019.]</ref>
In 2017, Cellulant joined Endeavour Global Entrepreneurs Network, an entrepreneurship movement.
 $47.5 million was raised by the Rise Fund, Endeavour Catalyst and Satya Capital, in 2018.<ref>[https://endeavor.org/entrepreneur/bolaji-akinboro/Bolaji Akinboro - Endeavor. Retrieved 6 November, 2019.]</ref> 
Cellulant announced its partnership with Adyen, a global payments company, in 2019.<ref>[https://thepaypers.com/online-payments/adyen-expands-payment-offering-to-africa-with-celullant-partnership/779092-3/Adyen expands payment offering to Africa with Cellulant partnership - ThePaypers. Retrieved 11 November, 2019.]</ref>
 It partnered with PayU, a fintech company, on 4 June 2019.<ref>[https://techmoran.com/2019/06/19/why-accepting-mobile-money-in-sub-saharan-africa-is-a-game-changer-for-global-businesses/Why accepting mobile money in Sub-Saharan Africa is a game-changer for global businesses - Techmoran. Retrieved 6 November, 2019.]</ref>  
Stanbic Bank partnered with Cellulant on 12 November 2019.<ref>[https://www.kassfm.co.ke/home/2018/11/26/cellulant-and-stanbic-to-enable-artistes-access-loan-facilities-from-skiza-ringtone-royalties/Cellulant and Stanbic to enable Artistes Access Loans Facilities from, SKIZA Ringtone Royalties - KassFM. Retrieved 12 November, 2019.]</ref>
 Cellulant’s other investors include Velocity Capital and Progression Africa, Velocity Capital Private Equity and TBL Mirror Fund. <ref>[https://weetracker.com/2019/07/26/these-soonicorns-could-be-the-next-billion-dollar-companies-in-africa/These ‘Soonicorns Could Be The Next Billion-Dollar Companies in Africa - WeeTracker. Retrieved 22 November, 2019.]</ref>
== Awards ==
Fintech 100 named Cellulant the Best Payments and Transfer Fintech in Africa in 2016.<ref>[https://www.techzim.co.zw/2018/11/press-release-digital-payments-firm-cellulant-listed-on-the-prestigious-kpmgs-2018-fintech100/{Press Release}: Digital Payments Firm, Cellulant Listed on the Prestigious KPMG’s 2018 FINTECH 100 - TechZim. Retrieved 6 November, 2019.]</ref>
In February 2017, the London Stock Exchange Group listed Cellulant as one of the ‘Companies to inspire Africa.’ <ref>[https://socialfintech.org/cellulant-from-3000-and-a-napkin-to-a-47-5-million-series-c/Cellulant- From $3000 and a napkin to a $47.5 million Series C - Socialfintech.org. Retrieved 6 November, 2019.]</ref>
It was named Company of the year at the African Diaspora Awards in New York City on 2 December 2017.<ref>[ https://www.pr.com/press-release/738444/Cellulant honoured as “Company of the Year” at the African Diaspora Awards in New York - Press Release. Retrieved 6 November, 2019.]</ref>
Cellulant received the 2019 award from Africa’s Business Continuity Institute Awards in Johannesburg on 12 September 2019. The award was for resilience and business continuity after the 15th January terrorist attacks.<ref>[https://techmoran.com/2019/09/13/cellulant-receives-africa-business-continuity-institutes-award-for-its-resilience/Cellulant Receives Africa Business Continuity Institutes Award for its resilience - Techmoran. Retrieved 5 November, 2019.]</ref>
 
== References ==
{{Reflist| 3}}

Navigation menu