Cloud9 has acquired Kenyan ticketing platform M-Tickets in a KES 100M ($773,000) all-stock deal, adding ticket sales and merchant payments to its app.
Cloud9 is buying M-Tickets as it pushes deeper into “lifestyle and fintech”, meaning financial services bundled into everyday activities like events and travel, not only transfers and bill payments.
The acquisition was announced as an all-stock deal. That means Cloud9 paid with shares instead of cash. The reported value is roughly KES 100 million, or about $773,000.
M-Tickets says it has processed more than one million tickets since 2014. Its ticketing covers concerts, transport, and sports events. For Cloud9, that activity is a high-frequency use case, especially among younger users who may not open a banking app daily.
Cloud9 cofounder Tesh Mbaabu said the bank views M-Tickets as a strong point of contact with youth. The plan is for customers to buy tickets both on M-Tickets and inside the Cloud9 app. Event organisers and vendors will also be able to receive payments through Cloud9’s business banking infrastructure.
The deal comes about seven months after Mbaabu and cofounder Mesongo Sibuti exited Chpter, a Kenyan social commerce startup.
For digital banks, distribution is often the hardest part. A ticketing platform can act like a built-in customer acquisition channel, because people return to it whenever they need transport or event access.
It also sets Cloud9 up for more business banking revenue. If organisers run ticket sales through Cloud9, the bank can earn fees from payment processing and payouts.
Cloud9 also hinted at lending opportunities. Ticketing data, like sales volume and frequency, can help assess cashflow for short-term credit (working capital) for event businesses and vendors.
Kenya’s fintech market is crowded, so bundling tickets, payments, and business accounts into one app may help Cloud9 stand out with a clearer everyday use case.
Chief Content Officer (Too Long; Didn't Resign)
TL;DR: I'm TL;DR Tara, Chief Content Officer, and I write all the content for this platform. I'm brilliant at it. Read on for proof.
Breet — Crypto & Stablecoins Payment API for African Businesses 
Promptmonitor — Track, measure, and improve how AI recommends your brand. 
Promptmonitor