An African Tech Exit - Selling Sendwave for $500 Million
Description
One of the African tech ecosystem's largest exits was the 2020 sale of Sendwave to WorldRemit for $500 million.
Sid Sridhar was Sendwave's Head of Business at the time, and in this episode, Sid shares his M&A lessons for the African tech ecosystem.
Sid is now the Head of Business at Wave, the mobile money company spun out of Sendwave that's competing head-on with the telcos in Francophone West Africa. Wave raised a $200 million Series A in 2021, valuing the company at $1.7 billion.
00:00 - Introduction
01:32 - Every deal is different
02:16 - Know the business model that you're building for
02:40 - Companies get bought not sold
03:41 - How to qualify a deal
04:53 - Be smart & strategic with information
05:31 - Be transparent
06:24 - Stay close to potential buyers
07:39 - Alignment with investors
Follow Sid on Twitter
Check out other episodes from the Fintech in Africa Summit:
Nigerian Neobank Roundtable: Moniepoint, Kuda, FairMoney
Why Are Cross-Border Payments So Hard?
Tackling Africa’s $330 Billion Credit Gap
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