Connect with us

Hi, what are you looking for?

Tech

Cellulant CEO Akshay Grover Steps Down to Focus on Personal Matters

Cellulant, a Kenyan-based payments fintech company, has announced that Group CEO Akshay Grover will leave the company effective January 2024. Current CFO, Peter O’Toole, will oversee the organisation’s operations as acting CEO.

The company has shared that Grover, who initially joined Cellulant as Chief Financial Officer in 2021, and was appointed CEO in the same year, is leaving to “focus on personal matters.”

“Under his leadership, Cellulant has strengthened its position both on the African continent and internationally. His efforts have been pivotal in enhancing the Cellulant brand and driving the company’s strategic objectives,” according to a company statement.

The company shared that it’s in the process of strengthening its leadership team further with many seasoned senior leaders with international and pan-African experience in the payment space.

Cellulant powers payments for over 1,500 global, regional, and local businesses across the continent. At the start of 2023, Cellulant reduced its headcount by 27 employees before cutting another 20% of its workforce in August 2023. It also consolidated and created some roles.

The company has raised $54.5 million in funding. In 2022, Cellulant intended to launch a $100 million series D round of funding, but that plan was shelved.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ad

You May Also Like

News

With progress made in accelerating financial inclusion to unbanked and underbanked communities in Nigeria, the Shared Agent Network Expansion Facilities Limited (SANEF) has posited...

Tech

Meta has announced new measures to tackle spammy content on Facebook, aiming to enhance the Feed experience and support authentic creators. These updates are...

News

Nigerians have lost N4.8 trillion ($2.99 billion) to various scams since 2016, according to findings by Paul Alaje, a prominent Nigerian economist and chief...

Tech

MTN Nigeria has announced the rescheduling of the MTN Champs Grand Finale to honour the legacy of its founding Chairman, Mr. Pascal Gabriel Dozie,...