According to reports, Flutterwave planned to buy UK fintech, Railsr the African unicorn also declined to comment on the rumour.
However, about seven acquisitions took place in the African tech ecosystem in Q1 2023, according to BD Funding Tracker, namely
Although both parties denied the 40 million acquisition, the conversations reportedly started during the fintech’s seed fundraising cycle.
Apart from the rumoured Payday acquisition, Flutterwave also had an acquisition rumour in January.
This will be a great trend because more MampA means there are exit opportunities for investors,” Zachariah George, Managing Partner at Launch Africa Ventures told Benjamindada.com last month.
In the same month, news broke that Moniepoint may acquire Payday, a Rwandan fintech company.
Should MAs be counted as funding events
- Instadeep’s mega acquisition
- DriveMe’s 100 stake in GoTwentySix
- The North African share swap deal
- Andela acquired Qualified
- A pioneer Nigerian crypto acquisition
- The intraSouth African fintech acquisition
- Acquisition to rebuild Africa’s money story
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