Individuals
Businesses
Company
Intelligence
News
African Capital Markets
Dangote IPONew
EnglishEnglish
share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram

Cloud9 Secures $500,000 From Crypto Accelerator Alliance

Cloud9 founder Tesh Mbaabu
BREAKING NEWSOctober 6, 2026 at 5:34 PM UTC

TLDR

  • Crypto accelerator Alliance invested $500,000 in Kenyan fintech Cloud9.
  • The investment is part of Cloud9's pre-seed round, totaling $1 million in funding.
  • Cloud9 provides digital banking and cross-border payment services for African businesses.

Alliance, a New York-headquartered crypto accelerator and founder community, has invested $500,000 in equity in Cloud9, a Kenyan fintech. This investment is part of Cloud9’s ongoing pre-seed round, which also attracted funding from Techstars NYC and strategic angel investors. The combined investments bring Cloud9’s total funding to $1 million.

Cloud9 provides digital banking services for businesses, focusing on building payment infrastructure for African businesses trading across borders. Users can hold multiple currencies, including Kenyan shillings, US dollars, euros, pounds, and Chinese yuan. They can send payments to suppliers in over 100 countries, receive international payments through virtual accounts, and withdraw funds to mobile money when local currency is needed. The platform also offers tools for payroll, bulk payments, and team approvals for businesses, while its Cloud9 Wealth product gives Kenyan users access to savings vaults and global stock markets.

Cloud9 launched its product in early 2026 and has since created more than 25,000 accounts. The company reports transaction volume growth exceeding 15% week over week. Its treasury operations cover more than 120 countries, with its payment network currently supporting direct payments to Mainland China, Hong Kong, India, and Southeast Asia, as well as intra-African collections. Kenya's imports from China were valued at $4.31 billion in 2024.

The company aims to simplify global trade for African businesses, allowing merchants to transact internationally as easily as locally. Stablecoins, specifically USDC and USDT, are a key part of Cloud9's backend operations, serving as the settlement layer for cross-border transactions. This approach makes transfers faster and cheaper than traditional correspondent banking, enabling Cloud9 to open new payment corridors without needing a bank in each country.

Cloud9 is expanding beyond banking through strategic acquisitions, having made two in three months. It acquired social commerce platform Chpter in an undisclosed all-stock deal in August and Kenyan ticketing platform M-Tickets for KES 100 million ($773,000) in May, also in an all-stock transaction. These acquisitions provide Cloud9 access to businesses at different points in their commercial activity, allowing it to layer financial services onto existing transactions and customer relationships. The new funding will support expanding cross-border payment corridors, improving product experience, launching virtual and physical cards, and growing its base of African consumers and businesses.

Key Takeaways

Cloud9 operates within a highly competitive Kenyan payments market, where Safaricom’s M-Pesa remains deeply embedded in everyday transactions. The company also faces competition from other payment providers such as Pesapal, Flutterwave, and Wise, which serve businesses with payment collection and cross-border capabilities. Cloud9 generates its revenue primarily from foreign-exchange spreads and transaction fees incurred when customers make payments. It also implements monthly fees on certain multi-currency accounts and wallets. The company has indicated plans to develop additional products around its business account, including credit options and various card offerings, to further enhance its service suite. Cloud9 was launched in October 2025 by Tesh Mbaabu and Mesongo Sibuti, shortly after their departure from social commerce platform Chpter, where they had previously served as co-founders, joining in early 2024 to accelerate its growth. The investment in Cloud9 highlights a broader industry trend, with Alliance General Partner Imran Khan emphasizing that stablecoins are rapidly emerging as a critical settlement layer for global trade, a development he notes is particularly significant for the African continent due to its potential for faster and cheaper transfers. Cloud9's stated mission is to simplify, democratize, and accelerate access to financial tools, aiming to help individuals grow wealth, enable businesses to scale more rapidly, and facilitate community participation in global markets through its unified platform.
Cloud9
Fintech
Kenya
Alliance
Crypto
Cross-border payments
Funding
Africa

Think someone else should see this?

share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram
Stay informed with our newsletters read by 25,000+ professionals worldwide
Newsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companies

Next Frontier

Stay up to date on major news and events in African markets. Delivered weekly.

Pulse54

Events

Sign up to stay informed about our regular webinars, product launches, and exhibitions.

+25k investors have already subscribed

To invest in this opportunity and other opportunities across Africa

Download the daba finance app on your mobile through
appstore iconappstore icon
Phone Image

Take action.

Download app

Partner with us

Unlock exciting business opportunities and growth potential.

Join Daba

Become a part of our vibrant community and enjoy exclusive benefits.

Contact us

Reach out to us for inquiries, support, or collaboration.
For Investor
Dangote Refinery IPO TrackerNewStrategiesPortfolio ManagementAfrican Capital MarketsNews
Daba Pro Intelligence
Daba  Academy
Markets
BRVM — Bourse Régionale des Valeurs MobilièresNGX — Nigerian Exchange
For Capital Seekers
For StartupsFor Fund ManagersFor Private CompaniesFor Lenders
For Partners
Commercial BanksBroker DealersAsset ManagersInvestment BanksInvestment Advisors and ConsultantsLenders and Microfinance
Company
About UsMarket UpdatesEventsBlog and PodcastNewsletterCase StudiesAffiliate ProgramInvesting GlossaryOfficial ContactsTrust, Compliance and SecurityFrequently Asked Questions

Terms & ConditionsPrivacy Policy
EnglishEnglish

Owned by Daba Markets Inc. By using this site, you accept our Terms and Conditions and Privacy Policy. © 2026 All rights reserved