Kenyan payment company Cellulant is branching into the South African market.
Cellulant Chief Business Officer Sike Bamisebi discussed the firm’s regional expansion plans in a Thursday (Dec. 1) Bloomberg report.
The firm plans to enter the South African retail realm, she told the news outlet, and has ambitions to launch in the United Arab Emirates (UAE) and the U.K. in the next two years.
Bamisebi also said Cellulant is about to close a fundraising round. Although no precise figure has been announced, the company has in the past indicated the fundraise could amount to as much as $100 million, Bloomberg noted.
Cellulant’s main product is a payment platform called Tingg that enables merchants to collect payments from 257 in-store and online methods across 35 markets.
The Kenyan PayTech also facilitates business payments, for example, through its virtual Mastercards for African businesses launched in October.
In comments made at the African Tech Summit in London last week, Bamisebi said the company provides “a valuable proposition in South Africa. We work with premium merchants and we give them access to these markets. These new markets fall in line with our strategy to prioritize the top markets.”
Read also: B2B Platform Solv Kenya and Cellulant Offer Payment and Collection Services
In its domestic market, Cellulant has recently partnered with Solv Kenya to launch a solution specifically for small and medium-sized businesses (SMBs).
“By offering multiple frictionless payment methods, businesses can realize increased sales and a growing customer base,” Cellulant Group Chief Revenue Officer David Waithaka said of the partnership. “Today, we’re excited to partner with Solv to avail these solutions to [SMBs] on their platform and work together for their growth,” he added.
For all PYMNTS EMEA coverage, subscribe to the daily EMEA Newsletter.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More