In October 2023, Peach Payments closed a $30 million financing round to support its growth. Based in South Africa, the company is expanding into French-speaking Africa. The closing of the transaction remains subject to customary regulatory conditions and procedures.

Peach Payments, a South African-based digital payment service provider, announced on Thursday, April 3, the acquisition of Senegalese fintech PayDunya. The goal is to expand its presence in Africa, particularly in French-speaking countries. The value of the transaction was not disclosed.

“This acquisition marks a significant milestone for PayDunya as it allows us to realize our dreams of expanding to reach and enhance the value we bring to businesses across Francophone and Anglophone Africa,” said Aziz Yerima, one of PayDunya’s founders. He added, “Together, we are poised to create a transparent, inclusive, and robust payment ecosystem that empowers African businesses to thrive in the digital economy.”

The deal “opens up new opportunities for merchants who can now partner with us and reach more than 450 million people in the markets where we operate,” Peach Payments commented on Linkedin.

The platform has been multiplying its operations since raising $30 million in October 2023. In June 2024, it acquired software development company Operativa. In addition to supporting its growth in the markets where it operates, its CEO, Rahul Jain (pictured, right), announced that the company plans to develop new products and enter new markets. The acquisition of PayDunya, which claims 70,000 daily transactions and 4,000 B2B customers, is part of this effort.

Note that in addition to its local market, Senegal, fintech is present in Togo, Benin, Ivory Coast, Mali and Burkina Faso.

This transaction comes amid a funding slump in Africa’s startup sector, with the continent’s young companies struggling to attract capital.

According to data from the Africa: The Big Deal platform , startups on the continent raised $460 million in the first quarter of 2025, down 5% from $486 million in the same period in 2024. This is one of the weakest performances since the COVID-19-hit year 2020.

However, fintechs attracted 46% of these amounts, or $211.6 million. It should be noted that the financial technology segment is the most attractive to investors in the African startup ecosystem. According to data from Partech Africa , it attracted 37%, or $852 million, in 2023 and 60% in 2024, or $1.4 billion.

Source: Agency EcoFin