After expanding into Eswatini, Mauritius, and Kenya, digital payments gateway Peach Payments has agreed to buy Senegalese payment platform PayDunya, marking its first foray into Francophone Africa.
Peach Payments, which was established in Cape Town in 2012, offers a comprehensive toolkit to assist companies in accepting, handling, and distributing payments via mobile and the internet. In recent years, the startup has grown remarkably, raising US$31 million in funding and starting to make acquisitions.
Through the acquisition of PayDunya, it has now entered Francophone Africa. The company’s goal is to help African businesses digitize their daily operations, sales, and payments by providing them with a single API that enables them to send and receive payments. The fintech company, which is based in Dakar, began operations in 2015 and is currently active in six Francophone West African nations.
“We are thrilled to join forces with Peach Payments,” said PayDunya co-founder and CEO Aziz Yérima. “Together, we are poised to create a seamless, inclusive, and robust payment ecosystem that empowers African businesses to thrive in the digital economy.”
The CEO and co-founder of the company, Rahul Jain, stated that PayDunya had established a market-leading company that was now a part of Peach Payments’ quest to create a truly pan-African payment ecosystem. This is the third deal that Peach Payments has been involved with since closing its funding round in late 2023.
“By integrating PayDunya, we are expanding our footprint into the UEMOA and CEMAC regions, unlocking new opportunities for merchants who can now partner with us and access over 450m people across the markets we operate in. Together, we can now offer seamless payment solutions across 12 countries and we will continue to expand this coverage rapidly,” he said.
“Peach Payments’ success wasn’t in raising the Series A Funding round. Success is in doing the hard work and expanding the business by putting that money to use. We’ve grown a lot and we are rapidly expanding into more countries. The PayDunya acquisition supports our expansion into West Africa, and bolsters what we are doing for cross border and international merchants.”
Depending on standard closing conditions and procedures, the deal should be finalized in the coming months.
