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2025 is shaping up to be a deal-making year for startups in Africa. From fundraising straight to buying smaller competitors or verticals, founders are making an increasingly convincing case that acquisitions can be pursued instead of building from the ground up. This internalisation of a ‘buy-over-build’ philosophy is driving a significant shift in the continent’s mergers and acquisitions (M&A) dynamic.
The strategy behind these acquisitions is varied; key drivers include securing a fintech licence to enter a new territory, vertically integrating a supply chain for greater efficiency, or simply consolidating a crowded market.
Unsurprisingly, the deals are largely concentrated in the continent’s most competitive sectors, particularly fintech and e-commerce/logistics. Notable acquirers include fintechs such as Stitch, LemFi and Moniepoint, alongside commerce and logistics players like Ora, Chowdeck and the merged MaxAB-Wasoko, all using M&A to strengthen their market position. The following table provides a running list of key startup-led acquisitions in 2025, detailing the companies involved and the reported strategic rationale.
Summary of Recent Startup-Led M&A Activity in African Tech
| Acquiring Company (Origin) | Acquired Company (Origin) | Deal Value | Primary Strategic Goal | Key Outcome / Benefit | Notable Metrics / Context |
|---|---|---|---|---|---|
| Nawy (Egypt) | SmartCrowd (UAE) | Undisclosed | Expand into UAE/Gulf markets; evolve into a real estate “super-app” | Strengthens MENA footprint; combines Nawy’s brokerage with SmartCrowd’s fractional investing tech. | SmartCrowd: Raised $3.6M pre-acquisition; facilitated $110M+ in property transactions. |
| Roqqu (Nigeria) | Flitaa (Nigeria/Kenya) | Undisclosed | Enter East Africa’s crypto market; bypass Kenya’s licensing hurdles. | Consolidates crypto presence in Nigeria, Kenya, and plans for Uganda, Rwanda, Tanzania. | Flitaa: 72,544 users; 560K monthly transactions; deep M-PESA integration. |
| Stitch (South Africa) | Efficacy Payments (SA) | Undisclosed | Gain end-to-end card-acquiring capabilities (no bank reliance). | First SA fintech with full card stack control; boosts merchant services (e.g., Takealot, MTN). | Efficacy: Licensed DCSP; SA card market to hit R2.9T ($159B) in 2025. |
| iSchool (Egypt) | SEEDS (Egypt/Saudi) | Undisclosed | Expand into Saudi Arabia; launch B2B2C AI/coding programs. | Taps into Saudi’s Vision 2030 STEM push; targets corporate HR benefits. | iSchool: Raised $4.5M (2023); SEEDS focused on AI education. |
| LemFi (UK/Nigeria) | Pillar (UK) | Includes £13M tech | Secure UK FCA approval + credit services for immigrants. | Enables credit access for African diaspora in the UK (previously excluded). | LemFi: $86M raised; 2M+ customers across US/UK/Canada/Europe. |
| Moniepoint (Nigeria) | Sumac MFB (Kenya) | Undisclosed | Acquire Kenyan microfinance license to replicate Nigerian success. | Accelerates entry into Kenya’s regulated financial sector via Sumac’s SME network. | Sumac: Backed by REGMIFA; embedded in Kenya’s small-business ecosystem. |
| Solar Panda (Kenya) | VITALITE (Zambia) | Undisclosed | Gain Southern Africa foothold + PAYG solar tech. | Expands reach to Zambia’s 60% off-grid population; scales in East/Southern Africa. | VITALITE: 100K+ customers; strong PAYG infrastructure. |
| CreditChek (Africa) | CreditCliq (USA) | Undisclosed | Access global credit data to underwrite African immigrants abroad. | Reduces default risk for lenders; bridges credit gap for diaspora. | CreditCliq: Specialized in global credit reports for newcomers. |
| Peach Payments (SA) | PayDunya (Senegal) | Undisclosed | Enter Francophone Africa (UEMOA/CEMAC regions). | Unlocks 8 West African markets; 4K+ merchants, 70K daily transactions. | PayDunya: Profitable; clients include Jeune Afrique, VFS Global. |
| Pesa (Nigeria/UK) | Authoripay (UK) | Undisclosed | Acquire UK EMI license + Mastercard Principal Membership. | Enables multi-currency wallets/cards in Europe; processes $80M+ added annual volume. | Pesa: Processed $380M+ pre-deal; ex-Pesapeer. |
| MaxAB-Wasoko (Egypt/Kenya) | Fatura (Egypt) | Undisclosed | Consolidate Egypt’s B2B e-commerce; EFG Finance becomes shareholder. | Deepens Egypt penetration (3rd-largest African consumer market). | Fatura: Asset-light marketplace; complements MaxAB-Wasoko’s logistics. |
| Dsquares (Egypt) | PrepIt (Egypt) | Undisclosed | Integrate AI-driven F&B loyalty SaaS into Dsquares’ B2B platform. | Expands loyalty solutions for banking/telecom/FMCG sectors in MENA. | PrepIt: Founded 2022; AI for F&B ops. Dsquares: Active in KSA, Egypt, UAE. |
| Street Wallet (South Africa) | Digitip (South Africa) | Undisclosed | Strengthen footprint in KwaZulu-Natal; accelerate digital inclusion for informal traders. | Acquires user base and enhances product offering with digital tipping; provides faster payouts and lower costs for merchants. | Street Wallet: Raised $350k last month. Digitip: Launched in 2023 for digital tips to informal workers. |
| Save Your Wardrobe (Tunisia) | Les Raccommodeurs (France) | Undisclosed | Build the most advanced, scalable, tech-first aftersales infrastructure for circular fashion. | Combines SYW’s platform with LR’s B2B repair ops & retail expertise; signals Europe-wide growth ambition. | Save Your Wardrobe: Grand Winner LVMH Innovation Award. Les Raccommodeurs: Leading B2B digital repair specialist. |
| Ora Technologies (Morocco) | Cathedis (Morocco) | Undisclosed | Vertical integration: control last-mile delivery for its superapp (Kooul e-commerce & Ora Cash wallet). | Aims for seamless end-to-end experience; a key all-Moroccan consolidation in a maturing market. | Ora: Raised $7.5M Series A (July 2025). Cathedis: 700+ clients, 300% growth (2020-2022), automated sorting centre. |
| Chowdeck (Nigeria) | Mira (Nigeria) | Undisclosed | Vertical integration: become the tech backbone for Nigeria’s food industry, beyond just delivery. | Adds restaurant PoS & management SaaS (inventory, payments) to its last-mile logistics. | Chowdeck: 1.5M+ users, 20k+ riders, $2.5M seed (Apr 2024). Mira: ~200 restaurants, processed $500k+. |
| Duaya (Egypt) | EXMGO (Egypt) | Six-figure USD | Strengthen e-commerce offering and advance pharmacy digitization in Egypt. | Adds SaaS for pharmacies (branded apps/websites) to its B2B medical supplies platform; relaunched as “Duaya Go”. | Duaya: 500+ suppliers, 12k+ clients, 200%+ growth. EXMGO: Rebraned as Duaya Go. |