M&A advisory services in Kenya

Kenya generates East Africa's most active M&A pipeline for tech and internet businesses, with Nairobi-anchored acquirers, pan-African PE and global strategics routinely pursuing Kenyan targets across agritech, fintech and logistics.

Exit activity encompasses bootstrapped trade sales and venture-backed transactions across the Westlands and Kilimani startup corridor, with Kobo360 and Cellulant illustrating the range of acquirer profiles - from regional trade buyers to international strategics.

Flow advises both bootstrapped and venture-backed Kenyan founders on sell-side M&A, combining a strong PE and strategic acquirer network with KPI-driven preparation and a lean end-to-end process from mandate to close.

Kenya tech M&A deals in the last 12 months

$48M

Kenya median tech M&A valuation

0.5x

Kenya median tech M&A revenue multiple

$70M

Kenya biggest tech acquisition in the last 12 months

Selling your tech company in Kenya

Kenyan M&A involves significant cross-border and offshore-parent structuring. Competition Authority of Kenya merger control and the Companies Registry-driven closings create the regulatory framework.

Completion accounts dominate

Kenyan private M&A is predominantly completion-accounts based, with detailed working-capital target and adjustment mechanics. Locked-box has limited adoption.

W&I insurance is growing

Warranty & indemnity insurance is becoming more common in Kenyan deals above roughly USD 25M, particularly in cross-border transactions. Premiums (2-3% of cover) typically split between buyer and seller.

CAK merger control

Competition Authority of Kenya (CAK) reviews transactions above the relevant turnover thresholds. Mandatory pre-merger notification regime; most pure-tech tuck-in deals don't trigger.

Capital gains for founders

Kenyan individuals are taxed on share disposal gains at 15% Capital Gains Tax (increased from 5% in 2023). Offshore holding structures (Mauritius, Delaware) materially shape the post-tax exit outcome.

Cross-border tax considerations

Most material Kenyan tech exits involve offshore (Mauritius/Delaware) holding entities. Kenyan indirect transfer rules can apply to sales of foreign entities deriving substantial value from Kenyan assets. Mauritius treaty benefits remain relevant despite tightening.

Sectoral foreign investment

Specific Kenyan sectors (financial services, broadcasting, defence) have foreign ownership caps and approval requirements. Most pure-tech transactions operate without sector-specific approval.

Recently acquired tech companies in Kenya

Biggest M&A recently in Kenya was a $70M acquisition of Shara by FairMoney in May 2026.

See all M&A deals in Kenya

		Description	Buyer
May-26	Shara	Shara is a Lagos-based route-to-market platform for fast-moving consumer goods companies in emerging markets. The mobile app provides sales automation, order reminders, digital wallets, and performance statements to distributors in Nigeria and Kenya.	FairMoney	$70M	-
Mar-26	Nation Media Group	Nation Media Group PLC is a media house in East and Central Africa. Its principal activities of the group are the publication, printing, and distribution of newspapers and magazines, radio and television broadcasting, and digital online products. It has businesses in television networks, film, and TV entertainment and delivers content on a multi-platform basis. Its operating segments are Newspapers & Digital and broadcasting. It generated the majority of its revenue from Newspapers & Digital segments that are engaged in the sale of newspapers, advertisements published in the newspapers, advertisements in the digital platforms, and subscriptions of e-paper.	Taarifa	$25M	0.5x
Dec-25	mTek	mTek is a digital insurance platform enabling paperless policy issuance, claims processing, and customer servicing. Based in South Africa, it powers brokers and insurers with mobile apps for quote generation and e-signatures compliant with FSCA regulations. The platform supports life, short-term, and health products, integrating with banks like Standard Bank for seamless payments.	bolttech	-	-
Nov-25	BuyRentKenya	-	Rushbox	-	-
Aug-25	Rate My Service	Rate My Service is a Nairobi-based customer feedback platform for Kenyan businesses in hospitality, automotive, and retail. It collects ratings on service quality, staff performance, communication, and pricing via SMS and QR codes, generating analytics dashboards. Integrated with WhatsApp, it serves 1,000 SMEs across East Africa. Launched in 2020, the platform supports Swahili and English interfaces.	AJUA	-	-

Who is buying tech companies in Kenya?

FairMoney, bolttech and Rushbox are the most active acquirers in Kenya.

See all acquirers in Kenya

Logo		Description	Key acquisitions
	FairMoney	FairMoney is a mobile banking app providing credit-led financial services in emerging markets since 2017. Operating in Nigeria and India, it offers instant digital loans, savings accounts, investment options, bill payments, and debit cards through its app. The neobank targets merchants and consumers with tier-one services to facilitate financial inclusion in Africa and South Asia.	SharaPayForce	1
	bolttech	bolttech is a Singapore-headquartered InsurTech firm building an AI-powered insurance distribution platform active in Asia, Europe, and Latin America. The company offers point-of-sale products covering device protection, travel, motor, property, and life insurance through partnerships with telcos, e-commerce sites like Shopee, and banks in 18 markets.	mTekDigital CareAxle Asia+1	1
	Rushbox	Rushbox is a managed hosting provider offering secure web and email services with features like malware scanning, backups, and uptime guarantees for small businesses.	BuyRentKenya	1
T	Taarifa	Taarifa is a private investment company.	Nation Media Group	1
	AJUA	Ajua is a Nairobi-based platform providing small and medium-sized enterprises with tools for customer discovery, social commerce advertising on Facebook, Instagram, and Google via mobile airtime wallets, and secure payment processing for both online and offline transactions.	Rate My ServiceWayaWaya	1
	Knowledge Platform	Knowledge Platform is a Singapore-headquartered company delivering next-generation learning solutions across Asia-Pacific. It specializes in instructional design, e-learning, and blended training programs for education, corporate, and government sectors. Services encompass strategy consulting, content development, technology implementation, and learner support, with expertise in immersive, personalized learning experiences.	Eneza Education	1
	KCB Group PLC	KCB Group Ltd provides banking services. The company's operating segment includes Retail Banking; Corporate Banking; Mortgages; Treasury and Others. It generates maximum revenue from the Corporate banking segment. The Retail banking segment incorporates banking services such as current accounts, fixed deposits, overdrafts, loans, and other credit facilities both in local and foreign currencies for corporate customers. Geographically, it derives a majority of its revenue from Kenya, and also has its presence in Tanzania, South Sudan, Uganda, Rwanda, Burundi, and DRC.	Riverbank SolutionTrust Merchant BankBanque Populaire du Rwanda	1
	HOSTAFRICA	HOSTAFRICA is a web hosting provider based in Johannesburg, South Africa. It supplies SSD-based shared hosting, reseller plans, VPS, and dedicated servers with NVMe storage and LiteSpeed servers. The company guarantees 99.9% uptime from Tier 3 data centers in South Africa and London, serving clients with cPanel management and free migrations.	deepAfricazanode.co.zaHOSTAFRICA+2	1
	Rise Vest Technologies	Rise Vest Technologies is a Lagos-headquartered fintech platform offering dollar-denominated investment access to Africans via mobile app. It enables stakes in U.S. stocks, real estate funds, and fixed-income products with minimums from $10, regulated by Nigeria's SEC. The platform processes remittances and treasury bills alongside equity portfolios tracking S&P 500 benchmarks. Founded in 2021, Rise Vest serves users in Nigeria, Kenya, and Ghana with automated dividend payouts and portfolio rebalancing.	HisaChaka Technologies	1
	Greenlite Ventures	Greenlite Ventures Inc acquired Artinian LLC which owns Game Time Watches and Game Time Band, a manufacturer and designer of sports licensed watches and watch bands. The Company is conducting active operations as per the Assets Purchase Agreement in both Tarrytown, NY and Boca Raton, Florida. The company earns revenue from the sale of watches, the sale of watch bands, and licensing fees. The Company launched its podcast operations with the airing of DeForrest’s Morning Briefing show alongside focusing on developing transformative software and crypto solutions for the gaming and crypto industries.	Ticketsasa.comGrin GamingNLT+1	1

Why Flow Partners as your M&A advisor

We operate across four fundamental principles that over the years enabled us to successfully advise many Kenyan companies.

Access to relevant buyers

We have extensive network and direct access to world's most prominent financial and strategic buyers, cultivated through years of successful M&A track record across bulge bracket investment banking.

No corporate red tape

We run lean deal processes, without BS, unnecessary time-wasting efforts and corporate inefficiencies. Our approach values candor, transparency and high-impact work to make sure great deals get done.

Thorough preparation

KPI-driven storytelling is more art than science. We have unmatched understanding of digital businesses and are experts in building sharp equity stories that present your business in a clear, concise manner.

Optimize value, not valuation

Valuation is only one side of the medal. We help creating attractive and efficient transaction structures that bridge incentive gaps between sellers, buyers and management teams.

We provide M&A advisory services across Kenya and beyond

Sector expertise

Explore our M&A advisory offering across a variety of tech sectors in Kenya.

Software

Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity

AI & ML

Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting

Fintech

Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software

Consumer internet

Consumer software subscription platforms, edutech, online content, social networks, online dating

Digital media

Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR

E-commerce & marketplaces

Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms

Consumer products

Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products

Mobility

Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure

Digital health

Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS

Industrial technology

Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing

Digital infrastructure

Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS

IT services

Software development and testing, digital transformation, cloud services, advertising agencies, IT support services

Selected case studies

We've closed sell-side and buy-side transactions across European, US and emerging-market tech.

Our M&A track record spans strategic exits to corporate acquirers, PE buyouts, and cross-border deals where regulatory and structuring complexity actually matters.

See all case studies

We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.

Recently completed M&A advisory projects

Selected M&A transactions and prior deal experience.

M&A

Polish publicly listed diversified industrial firm

M&A

German email marketing software platform

M&A

German software testing provider

M&A

Leading provider of testing, inspection, and certification services

M&A

Spanish neobanking platform for Gen Z and Millennials

M&A

Online price comparison and booking platform for rental cars

M&A

Digital testing, cybersecurity, content and digital forensics provider

M&A

Online casual dating platform for curious individuals

M&A

European DAM software provider

M&A

$3bn acquisition by Blackstone. Family of online dating brands (Badoo, Bumble, Chappy, Lumen).

M&A

€135m acquisition by Takeaway. Leading B2B online food delivery platform in Israel.

M&A

€80m acquisition by Zur Rose. Online e-commerce platform for pharmacy, beauty and wellness.

M&A

$200m acquisition by EMK. World's largest data collection and transformation platform.

M&A

Acquisition by ProSiebenSat.1 / General Atlantic. Online marketplace for household products and services.

M&A

€300m acquisition by Oakley Capital. Leading European online matchmaking platform.

M&A

Acquisition by Axel Springer. Leading Israeli online classifieds platform (jobs vertical).

M&A

$800m acquisition by Adobe. Marketplace for royalty-free images, graphics and HD videos.

M&A

€80m acquisition by Lifull. Spanish vertical search engine for real estate, cars and jobs.

M&A

Acquisition by Oakley Capital. Italy's largest online car insurance, gas and electricity brokerage.

Strategic Advisory

Strategic advisory. Cashless mobile taxi app connecting passengers to nearby taxis.

M&A

Acquisition by IAC. Digital social media platform for Q&A.

M&A

$228m acquisition by Axel Springer. Israel's leading classifieds and advertising portal.

M&A

Acquisition by Quant. Turkish membership-based daily deals site.

M&A

€320m acquisition by Bonnier. Pay television company across the Nordic region.

Minority Acquisition

€290m minority acquisition by News Corp. German direct broadcast satellite Pay TV (DACH).

M&A

€3.2bn acquisition by ProSiebenSat.1. European media group (TV, radio, print).

M&A

€3.1bn acquisition by KKR and Permira. German mass media and digital company.

Got questions?

Schedule a call ordrop us an email to learn more about our CFO-as-a-service, capital raising and M&A advisory offering.

Unlike traditional M&A advisors, we truly understand tech businesses and the unique challenges they face. Our investment banking background combined with deep sector expertise allows us to build compelling equity stories and navigate complex transactions.

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We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.

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M&A advisory services in Kenya