Tesh Mbaabu and Mesongo Sibuti, who stepped down from Kenyan social commerce platform Chpter, are launching Cloud9, a digital bank they say will provide a modern financial experience for young Africans.
In a Wednesday blog post announcing the venture, Mbaabu described Cloud9 as “a movement” that seeks to reimagine banking as a tool for dignity, belonging, and opportunity.”
The service is being positioned as a mobile-first banking platform that makes payments, savings, credit, and spending faster and more tailored to digital lifestyles.
The founders say the digital bank will target millennials and Gen Z, who form the majority of Africa’s population but remain underserved by traditional lenders. Mbaabu argues that existing institutions are still slow, rigid, and costly for a generation fluent in mobile apps, side hustles, and cross-border freelancing.Cloud9 is yet to launch but has an open waitlist for signups.
The duo are building the fintech with a team of ex-bankers and entrepreneurs, according to Mbaabu, who says it will focus on real-time payments, credit, and wealth management tools. The founders have not disclosed investors or timelines for launch.
Cloud9 comes less than two weeks after the pair stepped down from day-to-day roles at Chpter, the social commerce startup they joined in early 2024.
“Being a founder isn’t just about starting things; it’s about knowing when to transition and where you can add the most value,” Mbaabu told on Tuesday, September 30.
“My journey has given me priceless lessons, and I’m now channeling that energy into reimagining banking and unlocking credit access for Africa’s next generation of individuals and businesses.”
Mbaabu and Sibuti bring experience from their previous startup, MarketForce, best known for its YC-backed platform connecting retailers to suppliers. MarketForce shut down its B2B e-commerce arm RejaReja in 2024 after struggling to secure new funding amidst thin margins, and the startup’s wider future has since remained unclear.
Their pivot to Chpter saw them help secure a $1.2 million pre-seed capital and partnerships, including a Flutterwave deal, before handing the reins back to co-founder Mark Kiarie this September.
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