Peach Payments offers enterprise-grade digital payment services to enable online payments across African markets. The company plans to use new funding to build out new products and expand into additional African countries. Management intends to double down on existing markets—South Africa, Kenya and Mauritius—to grow market share and expand headcount. CEO and co-founder Rahul Jain said the capital will allow the company to pursue multiple priorities in parallel and speed execution. The company emphasised growth acceleration as the primary use of proceeds. No operating metrics or revenue figures were disclosed in the article. Peach Payments provides a payment gateway that allows businesses to accept credit/debit cards, bank transfers, mobile wallets, electronic wallets and mobile operator billing across websites, apps, SMS and e-mail. The company says it operates in South Africa, Kenya and Mauritius and is investigating expansion into other East and West African countries. Recent investments are earmarked to accelerate growth outside South Africa and to scale its products, services, operational and engineering teams. Peach reported a 400% increase in customer acquisition and 130% revenue growth last year, which leadership attributes to COVID-driven digital commerce acceleration. Co‑founders Rahul Jain and Andreas Demleitner emphasize expanding the original vision to meet customers where they do business digitally and to build an enduring Pan‑African payments business. Investors and leadership view the round as validation of the company’s core business model and as support for continued continent-wide expansion.

Total raised

$30M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2023