African product, global market: Expensya employees cashed out $10M from 2023 acquisition
- Expensya, an expense management startup based in Tunis and Paris, was acquired by the private equity firm Medius for over $100 million.
- Only a few African or Africa-focused tech companies have been acquired for more than $100 million.
- African startups are now urged to adopt a global mindset to safeguard their revenues and compete with their global counterparts.
The acquisition of Expensya by Medius demonstrates the potential of African startups to succeed globally and generate significant returns for investors and employees. It also highlights the importance of adopting a global mindset and prioritizing talent to compete with global counterparts. African startups should focus on building efficient products, selling to customers, and creating well-paying jobs at home.
