Peach Payments acquires PayDunya, expands in West Africa

The transaction marks the company’s first expansion into mainland Francophone Africa, following previous entries into Kenya (2018), Mauritius (2021), and Eswatini (2024). The deal is subject to standard closing conditions and procedures, with completion expected in the coming months.

Expansion into Francophone Africa 

PayDunya, a Dakar-based fintech firm, was founded in 2015 and has since grown its presence across six West African countries: Senegal, Côte d’Ivoire, Benin, Burkina Faso, Togo, and Mali. The platform enables businesses to process payments through websites and mobile applications while also offering bulk payment collection and disbursement services. Among its clients are enterprises such as Jeune Afrique, VFS Global, SUNU Assurances, Dubai Port Dakar, Sky Mali, and various fintech firms utilising its infrastructure. 

The acquisition provides Peach Payments with access to the West African Economic and Monetary Union (UEMOA) and the Central African Economic and Monetary Community (CEMAC), regions experiencing increasing digital payment adoption. A representative from PayDunya highlighted the potential for growth in these markets, noting the rising penetration of smartphones and mobile money services as key factors driving digital payment adoption. 

According to market data from Statista, revenue in the West African ecommerce sector is projected to reach USD 15.33 billion by 2029, with an estimated 47.7 million users and an average revenue per user of approximately USD 330.96.

Supporting Pan-African payment infrastructure 

A representative from Peach Payments stated that integrating PayDunya would improve the company’s ability to serve merchants across 12 countries, enabling them to reach a combined population of over 450 million. The company aims to expand its footprint further and provide seamless cross-border payment solutions for businesses operating in multiple African markets. 

The acquisition is Peach Payments’ third major transaction since securing USD 30 million in Series A funding in late 2023. In early 2024, the company acquired in-store payment technology from Exipay and later acquired Operativa, a software development firm, to strengthen its engineering capabilities. A company official noted that Peach Payments’ primary focus is on leveraging its funding to scale operations and facilitate business expansion.