Digital payments gateway Peach Payments has announced its acquisition of the Senegalese payment platform PayDunya, marking a significant milestone as it enters the Francophone African market. This move follows Peach Payments’ previous expansions into Eswatini, Mauritius, and Kenya, further solidifying its position as a key player in the African digital payments landscape.
Founded in Cape Town in 2012, Peach Payments offers a comprehensive toolkit designed to assist businesses in accepting, managing, and disbursing payments through both web and mobile platforms. The startup has witnessed remarkable growth in recent years, successfully raising US$31 million in funding and initiating a series of strategic acquisitions.
With the acquisition of PayDunya, Peach Payments is set to enhance its presence in Francophone Africa. PayDunya, established in 2015 and based in Dakar, aims to simplify the digitalization of sales, payments, and daily operations for African businesses. The platform provides a single API that enables businesses to seamlessly send and receive payments. Currently, PayDunya operates in six West African Francophone countries, positioning itself as a vital player in the region’s fintech ecosystem.
Aziz Yérima, co-founder and CEO of PayDunya, expressed enthusiasm about the partnership, stating, “We are thrilled to join forces with Peach Payments. Together, we are poised to create a seamless, inclusive, and robust payment ecosystem that empowers African businesses to thrive in the digital economy.”
This acquisition marks the third significant deal for Peach Payments since it closed its funding round in late 2023. Rahul Jain, CEO and co-founder of Peach Payments, highlighted the strategic importance of PayDunya’s market position, noting that it aligns with the company’s vision of building a truly pan-African payment ecosystem.
“By integrating PayDunya, we are expanding our footprint into the UEMOA (West African Economic and Monetary Union) and CEMAC (Economic and Monetary Community of Central Africa) regions, unlocking new opportunities for merchants who can now partner with us and access over 450 million 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,” Jain explained.
He further emphasized that Peach Payments’ success is not solely defined by its ability to raise funds but by effectively utilizing that capital to drive growth and expansion. “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,” he added.
The acquisition deal is anticipated to be finalized within the next few months, subject to standard closing conditions and procedures. This strategic move not only enhances Peach Payments’ capabilities but also positions it to better serve the evolving needs of businesses across the African continent.
