Cloud9 acquires Mtickets for $773K, boosting fintech

Cloud9 Bolsters Fintech Reach with Mtickets Acquisition

The acquisition sees Cloud9, co-founded by Tesh Mbaabu and Mesongo Sibuti, take over Mtickets, a platform that claims to have processed over one million tickets for concerts, transport, and sports events since 2014. According to Mbaabu, the deal provides Cloud9 with a crucial “point of contact with the youth” during their daily activities, moving beyond traditional banking interactions. The transaction comes seven months after Mbaabu and Sibuti exited their social commerce startup, Chpter.

Cloud9’s rationale for the acquisition stems from Mbaabu’s belief that finance should seamlessly integrate with personal life rather than being a standalone consideration. Mtickets will continue to operate as a standalone brand under its CEO and founder, Brian Bogonko, while its services will be directly integrated into the Cloud9 app. This integration will allow Cloud9 users to purchase tickets within the banking app, and event organizers will be able to receive payments through Cloud9’s business banking infrastructure. Furthermore, the acquisition opens up potential lending opportunities for event organizers, with Cloud9 planning to assess creditworthiness based on transaction histories and sales performance data from the platform.

Expanding the Cloud9 Ecosystem and Market Competition

Cloud9, which was initially announced in October 2025 and publicly launched in March 2026, targets younger African consumers who engage in online transactions. The digital bank offers multicurrency accounts, cross-border payments, virtual cards, savings products, and investment tools through partnerships with regulated banks. Users can hold various currencies, including Kenyan, US, Euro, Tanzanian, and Ugandan shillings. Cloud9 generates revenue through transaction fees and tiered subscription plans, ranging from a free option to a KES 999 ($7.73) monthly subscription for enhanced features like cashback and unlimited transfers. The company now faces competition from established digital banks, fintech startups, and ticketing platforms such as TicketSasa and Ticket Yetu, but Mbaabu believes Cloud9’s advantage lies in building financial services around user behavior.

Future Focus: Embedded Finance and Strategic Growth

With thousands of users already signed up and hundreds of new registrations daily, Cloud9 plans to publicly launch its business banking product later this month. The company is also exploring consumer credit and buy-now-pay-later products linked to ticket purchases and merchant activity. Mbaabu indicated that Cloud9 remains open to further acquisitions and partnerships as it expands into embedded financial services. As he articulated in his personal blog, “The future of fintech won’t be defined by who builds the best banking app. It will be defined by who understands where life happens , and builds there first.”