An African Tech Exit: Selling Sendwave for $500 Million

Video 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 X/Twitter: https://twitter.com/sidsridhar Check out other episodes from the Fintech in Africa Summit: Nigerian Neobank Roundtable: Moniepoint, Kuda, FairMoney - https://youtu.be/n1rpBd3AATY Why Are Cross-Border Payments So Hard? - https://youtu.be/c5jKUtK0ngs Tackling Africa’s $330 Billion Credit Gap - https://youtu.be/BAEa_ZQXyc8 Our Links - 🔔 Subscribe - https://youtube.com/@TheFlipHQ 💻 Website - https://theflip.africa 🐦 Twitter - https://twitter.com/theflipafrica 👥 LinkedIn - https://www.linkedin.com/company/theflipafrica/ 📸 Instagram - https://instagram.com/theflipafrica