These companies are still in their early years and hence may not appear to match Paypal Mafia tag but with time, the full impact may become clear.
One of Africa’s unicorns, Cellulant founded in 2011 has seen in its wake multiple rather successful startups launched by its former employees creating a wave reminiscent of America’s Paypal mafia.
Cellulant has raised a total of $54.5M in funding over 3 rounds. Their latest funding was raised on May 14, 2018 from a Series C round.
The company founded by Kenya’s Ken Njoroge and Nigeria’s Bolaje Akinboro had among its employees 7 people who have gone ahead to build major companies that have raise millions of dollars.
Imalipay
Among them is Imalipay, a fintech as a service platform which raised $4m as seed round last year. It was founded by a Nigerian and a Zimbabwean, Oluwasanmi Akinmusire and Tatenda Furusa respectively, both former employees of Cellulant.
WapiPay
The fintech company based in Kenya was cofounded by Eddie and Paul Ndichu who had a stint at Cellulant. WapiPay raised $2.2 million pre-seed round in 2021.
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