Nigerian cryptocurrency exchange Roqqu has acquired Flitaa, a Kenya-based crypto startup, in a move that marks the first public intra-African crypto acquisition.
This strategic deal gives Roqqu immediate access to Kenya’s fast-growing digital finance market without going through the country’s lengthy licensing process. Flitaa already operates in Kenya with strong mobile money integration through M-PESA, making it an attractive gateway into East Africa.
Roqqu currently operates in Nigeria, Ghana, and South Africa. With this acquisition, Kenya joins its regional footprint, and the company plans to expand further into Uganda, Rwanda, and Tanzania.
“Instead of starting from scratch, we saw value in Flitaa’s groundwork,” said Ayo Shonibare, Roqqu’s Chief Marketing Officer.
Founded in 2021, Flitaa has over 72,000 users and processes more than half a million monthly transactions. Its entire team has exited the company following the deal. Great Onomor, a director at Roqqu, now leads the Kenyan operations.
Roqqu’s CEO, Benjamin Onomor, said the goal is to help millions of Africans participate in the Web3 economy through easy-to-use crypto tools.
The value of the deal wasn’t disclosed, but industry estimates suggest it’s between $85,000 and $350,000, based on Flitaa’s size.
This deal sets a precedent for African crypto startups and could spark more regional mergers and partnerships across the continent.
Source: Techcabal.