Nigerian cryptocurrency exchange Roqqu has acquired Flitaa, a Kenya-based crypto startup, marking its entry into East Africa’s burgeoning fintech market. The acquisition, reported by TechCabal, integrates Flitaa’s operations across Kenya, Ghana, Uganda, and Tanzania into Roqqu’s platform, bolstering its ambition to become a pan-African crypto leader. The financial terms of the deal remain undisclosed.
Founded in 2019, Flitaa has built a customer base through its user-friendly crypto transaction services. Roqqu, also established in 2019 and self-funded, gains immediate market access in Kenya, supported by its claim of regulatory approval to operate there, though details of this approval await independent verification. This acquisition follows Roqqu’s 2022 acquisition of a virtual currency license in the European Economic Area, underscoring its dual focus on regional and global expansion.
The move aligns with a broader trend of Nigerian fintech startups targeting East Africa, drawn by the region’s progressive regulatory frameworks and widespread mobile money adoption. In June 2025, Nigerian payment infrastructure startup Fincra secured a license from the Bank of Tanzania, its third in the region. Similarly, Grey, a cross-border payments firm, established its East African hub in Kenya post-seed funding, while Risevest has explored acquisitions to enter the market.
Roqqu’s acquisition of Flitaa allows it to sidestep initial market-entry challenges, leveraging Flitaa’s existing infrastructure and customer networks. However, navigating diverse regulatory landscapes and user behaviours remains a hurdle for Nigerian firms expanding eastward.
This deal comes amid a tough funding climate for African startups. In March 2025, total startup funding plummeted to $50 million, the lowest in recent years, with Nigeria and Kenya accounting for nearly half. As capital tightens, intra-African consolidation in fintech and crypto is expected to rise, with Roqqu’s acquisition of Flitaa setting a precedent for strategic growth in a competitive landscape.
