Cellulant Corporation’s series C equity capital raising


DLA Piper Africa has advised leading pan-African fintech service provider, Cellulant Corporation, on its series C equity capital raising from The Rise Fund (TPG’s global impact investment fund), Endeavour Catalyst and Satya Capital.

The company’s existing investors include Velocity Capital Private Equity, Progression Capital Africa and TBL Mirror Fund. The transaction is subject to various regulatory notifications and approvals.

Cellulant is a leading African mobile commerce company operating a payments ecosystem connecting financial sector customers, Mobile Network Operators and businesses to their increasingly mobile consumers in 11 African countries.

The DLA Piper Africa team was led by Corporate Partners Chris Baird (Picture) and David Lekerai, based in London and Nairobi, respectively. Other team members include Alexander Kolmakov (Senior Associate, London), Callum Swanson (Associate, London), Ed Coates (Associate, London), Jesse Dalton (Senior Associate, London), Issa Omar (Associate, Nairobi) and Brian Kagunyi (Associate, Nairobi) as well as DLA Piper Africa offices in each of Mauritius, Zambia, Uganda, Ghana, Mozambique and Botswana.

Involved fees earner: Christopher Baird – DLA Piper; David Lekerai – DLA Piper; Alexander Kolmakov – DLA Piper; Issa Abdullahi Omar – DLA Piper; Jesse Dalton – DLA Piper;

Law Firms: DLA Piper;

Clients: Cellulant Corporation;