Overview: Today, we’re going to talk about Cellulant, the African payments infrastructure  company. We’ll explore the story across the following areas

  1. African financial sector context 

  2. Cellulant’s early history

  3. Product & monetization strategy 

  4. Competitive positioning & potential exit options

  5. Outlook


This episode was recorded on  Jan 20, 2025

Companies discussed: Cellulant, Flutterwave, Interswitch, DPO Group (Network International), Paystack, Stripe, Moniepoint, MTN & Airtel.

Business concepts discussed: Payments platforms, payments partnerships strategy, card networks, payments infrastructure, low-end disruption, banking regulation & payments M&A strategy

Conversation highlights:

  • (01:00) - What is Cellulant and why we’re talking about them

  • (07:25) - Context of African Banking Opportunity and Neobanks

  • (15:07) - Cellulant founding and early history

  • (36:16) - Fundraising

  • (41:17) - Growth and Geographical Expansion

  • (58:12) - Product and Monetization Strategy

  • (01:15:12) - Competition and Options for Exit

  • (1:21:26) - Bankole’s overall thoughts and outlook

  • (1:28:18) - Olumide’s overall thoughts and outlook

  • (1:32:45) - Recommendations and small wins


Olumide’s recommendations & small wins:

  • Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at olumide@afrobility.com. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at olumide@afrobility.com

  • Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)

  • Recommendation: Titan - Rockefeller's autobiography. Solid and thorough look at the fascinating life of an incredible person. Incredible read.

  • Recommendation: Areté: Activate Your Heroic Potential. Personal development book filled with ideas, as it compiles insights from other renowned books.

  • Recommendation: The 38 Letters from J.D. Rockefeller to his son: Letters from Rochaleller to his son with timeless stories and life principles

  • Recommendation: Google Notebook LM. Game changer for researchers, Incredible resource to research information when you have sources.

  • Small win: Stretching and yoga in the mornings before weight lifting workouts

  • Small win: Went to south pointe picnic with friends


Bankole’s recommendations & small wins:


Listeners: We’d love to hear from you. Email info@afrobility.com with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com

Investors: It would be great to link up with you. Contact us at info@afrobility.com


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