Beyond Payments:
Building Bridges to Prosperity

At Cellulant, we’re more than a payments company: we’re bridge-builders. We connect companies to their ambitions. By simplifying how people pay and get paid, we unlock growth, open markets, and connect communities to prosperity. 

Vision

To create a connected world where businesses move money as easily as they share ideas.

Mission

To deliver seamless, secure, and innovative payment solutions
for businesses.

Our Story

Across Africa, payments are more than transactions. They are gateways to prosperity, connecting people, businesses and communities to opportunities and growth.

From enabling a logistics company in Lusaka to pay suppliers across borders, to enabling a hospitality brand in Lagos to scale effortlessly, to supporting an airline in Nairobi to reconcile payments from multiple platforms, Cellulant is the bridge that makes it all possible.

Through trusted technology and customer-centric innovation, we build connections that inspire progress, strengthen economies and create lasting impact.

Since 2003, our transformative journey has been defined by relentless innovation, ecosystem collaboration, bold adaptation and an unshakable belief in improving lives through seamless, people-centred payments.

Our Journey -
A History of Innovation

Beginnings Our co-founders, Ken Njoroge and Bolaji Akinboro, conceptualised the company in 2002, sketching the audacious idea on a serviette that they could build a $1 billion business in Africa on a $3,000 budget. 2002 2003 2005 2002 Our First Hit: Mobile Content

Cellulant was founded in 2003. We kicked things off with mobile content—selling ringtones and music news through carrier networks. We launched in Uganda with Uganda Telecom, teamed up with Spacefon in Ghana, and set up a joint venture with Tavia Technologies in Nigeria. We quickly garnered 8 million consumers.

2003 2005 2002 2007 2003
The Mobile Shift As we sold ringtones and music content through mobile networks, we encountered payment challenges quickly. Although using mobile airtime for billing seemed simple, it exposed deeper issues with how payments moved across the system.
We approached banks to explore alternative billing methods and discovered a bigger issue: banks struggled to serve their retail customers digitally. That insight sparked our first pivot.
We built a platform that gave bank customers access to simple services like checking account balances; something basic, but revolutionary at the time.
That instinct to listen, innovate, and solve has been in our DNA from the beginning. It's what drove us to onboard and power digital banking experiences for over 60 banks across Africa in a short while and what still fuels every product we build today.

2005 2007 2008 2003 2002 2015 2005
Pioneering mobile banking In 2007, we built a bot to link bank accounts to Safaricom’s M-Pesa (which was then newly launched), pioneering bank-to-mobile money transfers.

That year, Cellulant was a Top-10 finalist (of 453 companies) in the Legatum Pioneers of Prosperity Africa Awards, held in Kigali, Rwanda

2007 2008 2011 2005 2003 2015 2007
Scaling mobile Banking In 2008, we advanced the mobile payment solution by deploying the first Mobile Banking Solution on USSD for one of the first multinational banks, Standard Chartered Bank.

For this achievement, we were recognised as the inaugural top medium-sized company in Kenya in the KPMG Top 100 medium-sized company awards.
2008 2011 2012 2007 2005 2015 2008
Series A October 2011 secured its Series A funding of $1.5 million from TBL Mirror Fund – its first institutional investment.

We also began to advance a converged eco-system that would connect Banks, Merchants, Mobile Network Operators and the consumer to create a single one-stop-shop for a seamless mobile commerce experience.

2011 2012 2014 2008 2007 2015 2011
Cellulant developed an e-wallet system for the Nigerian Government’s Growth Enhancement Support (GES) scheme in 2012 to digitize fertilizer subsidies. This platform (eventually branded Agrikore) digitized fertilizer subsidy distribution, reaching over 17 million farmers and facilitating $1 billion+ in subsidies over time. 2012 2014 2016 2011 2008 2015 2012 Series B In Feb 2014, Cellulant raised $5.5 million Series B from Velocity Capital, boosting its valuation and growth plans. By 2014 it had evolved its mobile banking and wallet offerings into a full-stack mobile payments ecosystem, interconnecting banks, merchants, and telecom operators for seamless digital commerce. Cellulant was now serving multiple African markets, including Kenya, Nigeria, Zambia, Ghana, Botswana and others. 2014 2016 2017 2012 2011 2015 2014 Continental Recognition Cellulant’s pan-African reach (operations in ~11 countries by 2016) gained industry acclaim. It won “Best Payments and Transfer Company – Africa” at the African FinTech 100 Awards in 2016.

By this time Cellulant’s payment network connected 50+ banks and 40 mobile operators, touching 40 million end-users.
2016 2017 2018 2014 2012 2015 2016
Cellulant launched Mula Shifting into consumer fintech, Cellulant launched Mula, a multi-country mobile app for personal payments (airtime top-ups, bill payments, etc.). Debuting in Kenya and expanding to Tanzania, Uganda, Ghana, Zambia and more, Mula offered a single, convenient interface for paying bills and managing money via mobile. Cellulant also began building an on-the-ground agent network to extend Mula’s reach to offline users 2017 2018 2019 2016 2014 2015 2017 Series C Cellulant closed a $47.5 million Series C at the time Africa’s largest fintech funding round, to scale its digital payments network.

The round was led by TPG Growth’s The Rise Fund (making its first Africa investment) alongside Satya Capital, Endeavor Catalyst, Velocity, and Progression Africa.

By 2018, Cellulant’s payments platform was live in 11 countries, serving about 40 million users and 120+ financial partners. Key markets included Kenya, Nigeria, Zambia, Ghana, Zimbabwe, Tanzania, Uganda, Botswana, Mozambique, Malawi and Liberia.

2018 2019 2021 2017 2016 2015 2018
Launch of Tingg Launch of the Tingg platform, bringing multiple payment methods into one unified solution.

In 2019, Cellulant rebranded Mula to “Tingg,” relaunching it as an all-in-one payments super app. Tingg integrated services like bill pay, merchant payments, lending, group investments and even e-commerce orders into one platform across eight African markets.
2019 2021 2024 2018 2017 2015 2019
Leadership Transition and Brand Evolution After 18 years as CEO, co-founder Ken Njoroge announced he would step down in 2021 to usher in “Cellulant 3.0”. Bolaji Akinboro (co-CEO for West Africa) also exited operational roles, marking the end of an era. In April 2021, Akshay Grover (hired as CFO earlier that year) became Acting CEO, and by Oct 1, 2021 he was confirmed as Group CEO by the board.
Under new leadership, Cellulant unveiled a refreshed brand identity and platform convergence in mid-2021 – aligning the corporate brand with the Tingg product, and affirming its mission to provide a one-stop digital payments platform for Africa.
2021 2024 2019 2015 2021 2018
Achieving Profitability Cellulant appoints Peter O’Toole as CEO. In March, Cellulant achieved profitability, a notable feat milestone for an Africa fintech, while processing over 1 million transactions daily across 24 markets. 2024 2021 2019 2015 2024
Cellulant staff Cellulant on the business Teams at Twig Cellulant entrepreneurship seminar Acting Group CEO at Cellulant Tingg Agrikore

The Legacy
of the Brave 6

In 2019, we lost six of our own, colleagues and friends, in the Riverside terrorist attack in Nairobi. Their names, stories, and the joy they brought into our lives remain woven into the fabric of who we are.
To honour their memory, we’ve committed to a legacy of service. Each year, we show up for our communities—mentoring youth, supporting schools, donating to hospitals, and stepping in where we’re needed most. These acts of service aren’t just tradition; they’re how we keep their spirit alive.
Their legacy grounds us. It reminds us of what truly matters and inspires us to lead with empathy, purpose, and heart.