Kenyan fintech Cloud9 has achieved a significant milestone in its funding journey, reaching a total of $1 million. This comes after securing a $500,000 equity investment from New York-based crypto accelerator and founder community Alliance. The investment represents half of Cloud9's total funding to date, with the remaining $500,000 raised from Techstars NYC and strategic angel investors as part of the company's ongoing pre-seed round.
Cloud9, founded by Tesh Mbaabu and Mesongo Sibuti, provides businesses with financial infrastructure for international trade. Its platform allows customers to hold multiple currencies, including Kenyan shillings, US dollars, euros, British pounds, and Chinese yuan. The platform also enables businesses to pay suppliers in over 100 countries, receive international payments through virtual accounts, and withdraw funds to mobile money when needed.
Cloud9's platform offers a range of tools, including payroll, bulk payment, and team approval features. Since launching its product in early 2026, the company has created over 25,000 accounts, with transaction volumes growing by more than 15% week over week. Cloud9's treasury operations now cover over 120 countries, while its payment network supports direct payments to Mainland China, Hong Kong, India, and Southeast Asia, as well as intra-African collections.
Stablecoins play a crucial role in Cloud9's cross-border payment infrastructure, with USDC and USDT used as part of its backend settlement system. The use of stablecoins enables faster and cheaper international transfers compared to traditional correspondent banking. This model also allows Cloud9 to open new payment corridors without requiring a banking relationship in every country.
Alliance General Partner Imran Khan noted that stablecoins are rapidly emerging as a critical settlement layer for global trade, particularly in Africa. Kenya's trade with China represents one of the corridors Cloud9 is targeting, with Kenyan imports from China valued at $4.31 billion in 2024. This creates significant demand for infrastructure that can make payments to overseas suppliers easier.
Cloud9 is expanding its services through acquisitions and new financial products. In August, the company acquired social commerce platform Chpter in an undisclosed all-stock transaction. It also acquired Kenyan ticketing platform M-Tickets in May for KES 100 million ($773,000), also in an all-stock deal. These acquisitions give Cloud9 access to businesses and consumers at different stages of commercial activity.
The new funding will support the expansion of cross-border payment corridors, product improvements, virtual and physical cards, and growth among African consumers and businesses. Cloud9 generates revenue primarily through foreign-exchange spreads and transaction fees, while some multi-currency accounts and wallets carry monthly fees. The company is positioning itself as a broader financial platform combining multi-currency accounts, international payments, business tools, wealth products, and future credit and card services.
Key points
- Cloud9 reaches $1 million in total funding with $500,000 equity investment from Alliance.
- Cloud9's platform enables businesses to hold multiple currencies and pay suppliers in over 100 countries.
- The company uses stablecoins to facilitate faster and cheaper international transfers.
