Peach Payments expands into Francophone West Africa with PayDunya acquisition

Deal News | Apr 04, 2025 | EIN

Peach Payments expands into Francophone West Africa with PayDunya acquisition

Cape Town-based fintech company Peach Payments has agreed to acquire PayDunya, a digital payments platform in Senegal, marking its entry into Francophone West Africa. This acquisition is a strategic move to expand Peach Payments' pan-African footprint and represents their third deal since securing funding in late 2023. Established in 2012, Peach Payments has achieved rapid growth, supported by US$31 million in funding. PayDunya, founded in Dakar in 2015, operates a unified API that enhances digital financial services in six West African countries. This deal leverages shared financial regulations in economic zones like UEMOA and CEMAC, aiming to enhance seamless payment solutions across 12 African nations. While fintech in Francophone West Africa lags behind Anglophone regions, initiatives to promote digital transactions and financial inclusion are drawing international interest. The transaction is pending legal and regulatory approval.

Sectors

  • Financial Technology (FinTech)
  • Payments and Transactions

Geography

  • Senegal – PayDunya is headquartered in Senegal, making it a key geographic location for the acquisition.
  • South Africa – Peach Payments is based in Cape Town, South Africa, indicating its geographical origin.
  • Francophone Africa – The acquisition specifically targets Francophone West Africa, with PayDunya operating in multiple countries within this region.

Industry

  • Financial Technology (FinTech) – The primary industry involved is FinTech because both Peach Payments and PayDunya are involved in offering digital payment solutions.
  • Payments and Transactions – The article's focus on digital payment platforms and cross-border transactions places it within the Payments and Transactions sector.

Financials

  • US$31 million – The total funding received by Peach Payments, which supports its ongoing expansion efforts.

Participants

NameRoleTypeDescription
Peach PaymentsAcquiring CompanyCompanyCape Town-based fintech company expanding into Francophone West Africa through the acquisition of PayDunya.
PayDunyaTarget CompanyCompanyA digital payments platform headquartered in Senegal, operating in six Francophone countries in West Africa.
Rahul JainCEO and Co-founderPersonCEO and co-founder of Peach Payments, leading the company's expansion strategy.
Aziz YrimaCEO and Co-founderPersonCEO and co-founder of PayDunya, emphasizing growth opportunities from the merger.