Rise Fund, Endeavor Acquire Stake in Cellulant of Kenya

Cellulant will use proceeds from 4.8b- shilling transaction to expand Nigerian operations, enter two new African markets by year-end, upgrade payments infrastructure, Nairobi-based Business Daily newspaper reports, citing CEO Ken Njoroge.

* Cellulant, which provides mobile-payment solutions, has operations in 11 African nations

* Rise Fund is a unit of San Francisco-based TPG Growth. Source: Bloomberg