Beyonic acquired by MFS Africa (2020)
MFS Africa, now Onafriq, acquired Beyonic, a mobile-money platform Dan Kleinbaum co-founded that operated across seven African markets. The deal folded a startup's payment tools into a pan-African cross-border network.
Beyonic's technology and team joined a larger aggregator, and Kleinbaum moved on to build East African FX and treasury services.
It marked a wave of consolidation in African payments, where startups build local rails and larger networks buy them to extend reach.
Kleinbaum's second exit follows the same pattern. He again built a licensed payments business in a hard-to-serve market and sold it to a platform needing local rails.
