Kenya-based Wasoko and Egypt-based MaxAB, two of Africa's largest B2B e-commerce platforms, merge in an all-stock deal; the companies raised over $240M combined
450K+ merchants across 5 markets —$180M payment volume in Egypt, surpassing commerce sales —disbursed $20M in merchant financing; <1% default. —4,000+ employees. https://techcrunch.com/... @frankeleanya : Now, that's what you call a merger. “MaxAB and Wasoko have a pretty close to 50-50 shareholding,” Yu said. https://techcabal.com/... Josh / @joshuaogundu : Consolidation continues Bolu / @boluabiodun1 : Wasoko and MaxAB's merger creates Africa's largest tech powerhouse! With 450K merchants and 65M customers, they're set to transform B2B eCommerce and financial services across the continent. Read more about it here: https://techpoint.africa/... @abuyaslife : The @wasoko_official merger with Egypt's MaxAB has been concluded. Daniel Yu and Belal El-Megharbel, the co-founders and CEOs of Wasoko and MaxAB, will jointly lead the merged entity as co-CEOs. https://techcabal.com/... @techpointafrica : It's taken eight months, but the proposed merger between Wasoko and MaxAB has finally been completed. Both companies signed preliminary terms in Q4 2023 ahead of what has been referred to as Africa's largest tech merger till date. https://techpoint.africa/... @mroladunmade : The integration of Wasoko and MaxAB's tech and operations was completed in 60 days, the company claimed. Former Wasoko employees told TechCabal in January 2024 that MaxAB's systems were preferred @techcabal : Wasoko, MaxAB finalise “category king” merger: The merged entity will have a new name, which the company declined to share, citing a rebranding process which will soon begin. https://techcabal.com/... @weetracker : The vision behind the now-completed Wasoko-MaxAB merger extends far beyond just e-commerce, with both companies setting their sights on building a multi-vertical ecosystem that includes e-payments, credit, and digital top-ups, Co-CEO Daniel Yu says. https://weetracker.com/...