Selar, the eCommerce platform for digital creators, has announced a groundbreaking milestone, revealing it paid out a staggering ₦9.8 billion to creators in 2024. This figure more than doubles the ₦4 billion paid out in 2023, showcasing the platform’s remarkable growth and dominance in the digital economy.
Founded in 2016 by Douglas Kendyson, a former Paystack team member, Selar has experienced exponential growth, particularly since 2020. Through innovative marketing strategies and strategic partnerships, the company has managed to double its annual creator payouts year after year since 2022.
In a recent social media update, Selar highlighted its impressive performance in 2024, with transactions soaring by 55.73% to reach 629,000. The platform also witnessed a surge in its creator base, growing by 60.78% to an impressive 241,000. Overall, the total number of users skyrocketed by 72%, reaching a global audience of 1.5 million users.
Selar’s global presence continues to expand, with the platform now accessible in 194 countries and supporting 13 currencies. This international reach, combined with its creator-centric approach, has cemented its position as a game-changer in the eCommerce space.
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Douglas Kendyson’s journey with Selar began after noticing a demand for selling digital products during his time at Paystack.
Selar’s journey to profitability is equally impressive. By 2022, the company achieved financial independence without external investment, apart from the $10,000 Tony Elumelu grant received in 2018. Speaking to Rest of World in 2024, Kendyson shared his vision, saying, “I enjoyed the autonomy. We have enough money in the bank to keep going, and there’s no reason for us to raise [funds].”
This meteoric rise from a bootstrapped startup to a leader in digital commerce underscores Selar’s commitment to empowering creators worldwide. As the demand for digital products and services continues to grow, Selar’s success story is a testament to the vast potential of the creator economy.
