Orrick has advised on two of the three largest African private equity tech deals in 2018. In December, the firm counseled Wakanow.com, one of West Africa’s largest online travel companies, on The Carlyle Group’s $40 million equity investment in the company from its Sub-Saharan Africa fund CSSAF.
Founded in 2008, Wakanow will use the investment to continue to grow its platform internationally. The company currently operates in Ghana, Kenya, Nigeria, the United Arab Emirates and the United Kingdom.
This transaction adds to the growing list of technology-related investments developing across Africa. In May 2018, Orrick advised an investor in Nairobian digital payments platform Cellulant’s $47.5 million Series C – the largest deal of its kind in the Africa fintech and payments space. Also in 2018, Orrick advised Terragon Holdings, a Nigerian software analytics company, on its Series A round by African venture firm TLcom Capital.
The Orrick London team advising Wakanow was led by Weyinmi Popo and included Ed Denny, Deborah Benyamine, Bridget Winters, Charles Sheldon and Alex Sobolev.