One of Africa’s most successful founders is back with a new AI startup and already raised $9M
In 2023, Expensya, an African expense management startup co-founded by Karim Jouini and Jihed Othmani, was acquired by Swedish firm Medius for over $120 million, marking a significant milestone in African startup acquisitions.
MAIN POINTS
- Expensya, an African startup, was acquired by Medius in 2023.
- The acquisition is one of the largest for an African startup.
- The deal was reportedly valued at over $120 million.
- Co-founders Karim Jouini and Jihed Othmani led Expensya to success.
TAKEAWAYS
- The acquisition highlights the growing value and potential of African startups.
- Expensya's success demonstrates the global interest in innovative expense management solutions.
- Medius's acquisition strategy includes expanding its procurement software offerings.
- This deal underscores the increasing trend of international firms investing in African tech companies.