Cellulant, a leading digital payments provider, has been named among the top 50 emerging fintech companies in the world in this year’s KPMG FinTech100 report.
Cellulant is among three African companies to be included in the list of leading global Fintech innovators that are transforming the financial services industry and have successfully raised venture capital.
“In most of sub-Saharan Africa, nearly 90 per cent of all payments and transactions remain cash based yet the rate of mobile penetration in Africa is currently at 43 per cent. We are innovating around digital payments to change this status quo,” said co-CEO Ken Njoroge in a statement.
The 2018 KPMG Fintech100 report highlights innovative companies creating products and services of technology and financial services. The annual report now in its fifth edition, has featured companies from 36 countries..
It is divided into two categories including the ‘Top 50’ which has established Fintech firms around the globe, ranked based on innovation, capital raising activity, size and country. The second category is the ‘Emerging 50’ firms.
“Our commitment is to continue scaling a payments infrastructure that can transform two thirds of Africans who do not have access to a bank account. We believe that building a connected payments infrastructure is the foundation of solving real challenges and accelerating Africa’s growth and development,” said co-CEO Bolaji Akinboro.
Cellulant was selected for operating a one-stop payments ecosystem in Africa; connecting businesses and governments to increasingly mobile consumers and for being the only African company to land the largest investment in the Fintech arena. Cellulant now operates in 11 countries, with roughly 12% of Africa’s mobile consumers now able to make payments using their services and products. Cellulant is now building Agrikore- a block chain based smart-contracting, payments marketplace that ensures every stakeholder in the agriculture value chain can do business in a trusted and transparent environment.