Nigerian cryptocurrency exchange Roqqu has acquired Kenyan crypto startup Flitaa, gaining access to Kenya’s rapidly growing fintech ecosystem.
Founded in 2019, Flitaa is a platform that simplifies cryptocurrency trading for users in Kenya, Ghana, Uganda, and Tanzania.
Roqqu, which has grown without relying on external funding, has taken a significant step toward its vision of becoming a pan-African cryptocurrency platform with this acquisition.
This move by Roqqu is expected to increase crypto accessibility across the continent—an important development, especially in regions where traditional banking infrastructure is weak and cryptocurrencies can play a critical role.
In recent times, other Nigerian tech startups have also taken steps toward regional expansion. For instance, Grey established its East African hub in Kenya; the investment platform Risevest has explored acquisition strategies to enter the Kenyan market; and Fincra secured a license from the Bank of Tanzania.
Through such efforts, Nigeria continues to expand its fintech sector beyond its borders. However, this growth comes with challenges such as differing regulations, cultural differences, and varying user behaviors.
While Roqqu’s move carries certain risks, it remains a strategic and significant decision.
The fact that it comes at a time when startup funding in Africa has become increasingly difficult makes the acquisition even more noteworthy.