Windsor Drake
Transaction · Neobank · 2023

Kwara / IRNET 2023

Kwara acquired IRNET on January 16, 2023.

Target
IRNET
Acquirer
Kwara
Announced
January 16, 2023
Sub-sector
Neobank

Transaction overview

  • Kwara announced the acquisition of IRNET on January 16, 2023.

Strategic rationale

Acquire core banking software from Kuscco to expand neobanking platform across 4,000+ credit unions in Kenya.

Deal terms & multiples

Deal value
Not disclosed
Target revenue
Not disclosed
Target EBITDA
Not disclosed
EV / Revenue
Not disclosed
EV / EBITDA
Not disclosed
Announcement
January 16, 2023
Acquirer
Kwara (Strategic)
Sub-sector
Neobank

Sources

  • kachwanya.com /2023/01/16/kenya-fintech-startup-kwara-raises-3m-seed-extension/

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