Digital payments gateway Peach Payments has agreed to acquire Senegalese payment platform PayDunya, marking its first entry into Francophone Africa following its previous expansion into Eswatini, Mauritius and Kenya.
Founded in Cape Town in 2012, Peach Payments provides a complete toolkit to help businesses accept, manage and disburse payments through web and mobile. The startup has experienced exceptional growth in recent years, raising US$31 million in funding and beginning to make acquisitions.
It has now expanded into Francophone Africa by acquiring PayDunya, which aims to simplify digitalisation of sales, payments and day-to-day operations for African businesses using a single API that allows them to receive and send payments. The Dakar-based fintech started operations in 2015, and now operates in six West African Francophone countries.
“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.”
This is the third deal Peach Payments has been involved with since late-2023, when it closed its funding round, and the company’s CEO and co-founder Rahul Jain said PayDunya had built a market-leading business that was now part of Peach Payments’ journey to build a truly pan-African payment ecosystem.
“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.”
The deal is expected to be completed within the next few months, pending standard closing conditions and procedures.
