Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Capital on the Frontier Best Practices Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe Log In

TPG’s Rise Fund takes stake in digital payments company Cellulant

ImpactAlpha, May 15 – TPG Growth’s $2 billion The Rise Fund impact fund led Nairobi-based Cellulant’s $47.5 million Series C financing round, marking the fund’s first investment in Africa. Cellulant will use the funding to expand into new areas and hire a larger team. Cellulant is among Africa’s biggest mobile money companies, with operations in 11 countries. It says it processes 12% of digital transactions on the continent.

  • Big deal… Cellulant’s Series C raise is the largest investment in an African fintech firm, the companies said in a statement.
  • Cutting-edge tech… Among Cellulant’s products slated for expansion is Agrikore, a blockchain-based, mobile-payments product for farmers.
  • More money… Endeavor Catalyst, Satya Capital, Velocity Capital and Progression Africa also backed the round.

“Expanding easy-to-use and low cost mobile banking offers immense potential for impact, and Cellulant is at the leading edge of that work,” The Rise Fund’s Bill McGlashan said in a statement.

You might also like...