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African Tech M&A Activity Rose 34% in 2024: What to Expect
M&A activity surged by 34% in Africa's tech sector in 2024, with 39 deals recorded. Venture capital funding dropped by 22.73% to $2.21 billion, pushing startups towards M&A.
Cardtonic raises $2.1 million to build Pil, its standalone business spend infrastructure
Cardtonic raised $2.1 million in seed funding to build Pil, a B2B card spend management platform. The funding round was entirely backed by angel investors, not venture capital firms.
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.
Five Africa Startups To Pay Attention To In 2026
Jumia has focused on its core e-commerce and JumiaPay ecosystem after shutting down non-core food delivery markets. Flutterwave is preparing for a potential NASDAQ listing, having secured new licenses and expanded its remittance services.
Flutterwave Acquires Mono to Advance Open Banking and Account-to-Account Payment
Flutterwave has acquired Mono, enhancing its open banking capabilities. Mono's API-driven platform provides secure access to financial data and identity verification.
