Tesh Mbaabu and Mesongo Sibuti, the co-founders of MarketForce and Chpter have announced the launch of Cloud9 Money, a new neobank designed to give Africa’s youth a faster, smarter, and more human financial experience.
Unlike traditional banks, neobanks operate fully online and are built around mobile-first lifestyles. Cloud9 Money is positioning itself as part of this new wave, offering real-time payments, transparent credit, savings, and wealth management tools designed for Africa’s millennials and Gen Z.
Banking, Reimagined for Africa’s Youth
Mbaabu describes Cloud9 Money as more than just a financial app: “Cloud9 has always symbolized joy, freedom, and possibility. That elevated state of living is what we want to bring to young Africans through Cloud9 Money.”
Africa is the world’s youngest continent, with 70% of its population under 30. By 2030, young Africans will make up 42% of the world’s youth population, and already 1 in 3 Africans is engaged in entrepreneurial activity. Yet, despite this drive and creativity, most remain underserved by traditional lenders.
“Banking in Africa is broken for us – Millennials, Zillenials, and Gen Z,” Mbaabu said. “We’re fluent in apps and side hustles, but too often excluded, overcharged, or slowed down by rigid institutions.”
What Makes Cloud9 Money Different
The neobank is being built by Africans, ex-bankers, and entrepreneurs who have personally experienced these barriers. Its design focuses on eliminating hidden fees, clunky onboarding, and exploitative credit practices.
Key offerings will include:
- Instant, real-time payments for a generation that lives online.
- Accessible, fair credit for freelancers, hustlers, and small businesses.
- Wealth management tools to help young Africans grow, not just spend.
- Borderless features to support cross-border freelancing and global commerce.
At its core, Cloud9 Money says it is a movement to re-humanize finance, restoring trust in a sector where many feel excluded.
The Bigger Bet
Africa’s fintech sector has exploded in recent years, with startups like Kuda, Chipper, and Flutterwave driving the shift to digital-first financial services. But with over $1 trillion already flowing through digital payments each year, there’s still massive room for innovation.
Mbaabu argues that neobanks like Cloud9 Money will be key to unlocking the continent’s economic potential. “Because when money flows, opportunities flow – and when opportunities flow, our youth and our continent rise,” he said.
Founders’ Track Record
Cloud9 Money comes after Mbaabu and Sibuti stepped down from leadership at Chpter, where they helped raise $1.2 million in pre-seed funding and built partnerships with fintech leaders like Flutterwave.
The duo first made their mark with MarketForce, the YC-backed platform connecting retailers to suppliers. Though MarketForce’s B2B commerce unit RejaReja shut down in 2024, the experience gave them deep insight into Africa’s financial and digital commerce ecosystem.
A Movement, Not Just a Bank
Cloud9 Money has not yet disclosed funding or launch dates but has opened a waitlist for early adopters.
For Mbaabu, this is about more than transactions: “Cloud9 Money is a neobank built for ambition, creativity, and freedom. It’s not just about moving money, but about powering the next generation of Africans to live fully, build wealth, and shape the future.”
With this neobank, the founders are betting that Africa’s digital-first youth will embrace a banking model that speaks their language: fast, mobile, borderless, and human.