Mono acquisition delivers Silverbacks’ 10th exit as the firm shifts sights to sports
- Silverbacks Holdings recorded its 10th profitable exit with the acquisition of Mono by Flutterwave.
- The acquisition was structured as an all-stock deal, linking the exit value to Flutterwave's stock market performance.
- Silverbacks is shifting its investment focus from fintech to African sports, a sector with less investment.
Silverbacks Holdings' strategic pivot towards sports investment is a bold move that could reshape the African sports landscape. By leveraging their fintech success and attracting high-profile investors, they are well-positioned to capitalize on the growing interest in sports and entertainment in Africa. This shift not only diversifies their portfolio but also highlights the potential for significant cultural and economic impact in the region.
