Peach Payments, an enterprise-grade payments gateway, has reached an agreement to acquire PayDunya, a Dakar-based fintech company.
This acquisition marks Peach Payments’ foray into mainland Francophone Africa, after its expansion in Eswatini, Mauritius, and Kenya.
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The transaction is due to close in the coming months, subject to fulfilment of standard closing conditions.
Launched in 2015 by Aziz Yérima, who developed a prototype in 2014, PayDunya operates in six West African countries: Senegal, Côte d’Ivoire, Benin, Burkina Faso, Togo, and Mali.
The platform specialises in processing online payments for websites and mobile applications, and manages the collection and distribution of bulk payments.
Yérima said: “We are thrilled to join forces with Peach Payments, a company that shares our vision of accelerating Africa’s digital transformation through innovative financial solutions. This acquisition marks a significant milestone for PayDunya as it enables us to make our expansion dreams to reach and enhance the value we bring to businesses across Francophone and Anglophone Africa come true.
“Together, we are poised to create a seamless, inclusive, and robust payment ecosystem that empowers African businesses to thrive in the digital economy.”
Peach Payments CEO and co-founder Rahul Jain stated: “Aziz, Youma and Christian have built a market-leading business and this acquisition represents an exciting chapter in our 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.”
This acquisition marks Peach Payments’ third significant transaction since late 2023, following a €29m ($30m) funding round led by Apis Growth Fund II.
Earlier in February 2024, the company acquired technology from Exipay for in-store payments, and in June 2024, it purchased Operativa, a customer software development firm.
