Tesh Mbaabu and Mesongo Sibuti, the entrepreneurial duo who recently stepped down from their leadership roles at Kenyan social commerce platform Chpter, have unveiled their next venture: Cloud9, a mobile-first digital bank aimed at transforming financial services for young Africans.
In a blog post published Wednesday, Mbaabu described Cloud9 not merely as a fintech product, but as “a movement”, one that seeks to redefine banking as a tool for dignity, belonging, and opportunity. The platform is being built to serve the continent’s millennial and Gen Z populations, who make up the majority of Africa’s demographic but remain largely underserved by traditional financial institutions.
Mbaabu wrote:
Existing banks are slow, rigid, and expensive. They don’t reflect the realities of a generation fluent in mobile apps, side hustles, and cross-border freelancing. Cloud9 is here to change that.
Cloud9 is designed to offer a modern, digital-first financial experience, with features that include real-time payments, savings, credit access, and wealth management tools, all optimized for mobile use. While the platform has not yet launched, it has opened a waitlist for early sign-ups, signaling strong interest from users eager for alternatives to legacy banking systems.
The startup is being built by a team of former bankers and seasoned entrepreneurs, though specific investors and launch timelines have not yet been disclosed. Mbaabu emphasized that the bank’s infrastructure will prioritize speed, flexibility, and user-centric design, with a focus on enabling financial freedom for individuals and small businesses across the continent.
The announcement comes just weeks after Mbaabu and Sibuti exited their operational roles at Chpter, where they had helped secure $1.2 million in pre-seed funding and forged strategic partnerships, including a notable deal with Flutterwave. Leadership of Chpter has since been handed back to co-founder Mark Kiarie.
Reflecting on the transition, Mbaabu commented:
Being a founder isn’t just about starting things; it’s about knowing when to transition and where you can add the most value. 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.
Prior to Chpter, Mbaabu and Sibuti were also co-founders of MarketForce, a YC-backed startup known for connecting retailers to suppliers across Africa. MarketForce shuttered its B2B e-commerce arm RejaReja in 2024 due to funding challenges and thin margins, leaving its broader future uncertain.
With Cloud9, the founders are betting on a new frontier, one where digital banking meets youth-driven innovation, and where financial inclusion is not just a goal, but a foundational principle.
