Peach Payments, a South African payments infrastructure firm, has raised $31M in a Series A funding round led by Apis Partners.
The fintech startup intends to use the fresh funds to grow into new African markets and increase its product offering.
The company expanded its operations to Kenya in 2018 and Mauritius in 2021 and now it plans to expand across Africa.
Merchants can accept, manage, and make payments via mobile and web using its infrastructure. It accepts a variety of payment methods, including cards, electronic funds transfer, digital wallets, mobile money, and buy now, pay later (BNPL).
Peach Payments, one of Africa’s most exciting high-growth businesses with a relentless focus on technology and operational leadership, is at the forefront of enabling next-generation payments for merchants across the continent.
The company offers a toolbox to merchants that allows them to accept, manage, and make payments via mobile and the web. Online payment acceptance, pay-outs (disbursements), and subscription solutions are among the services provided. Payment types accepted include cards, electronic funds transfer, digital wallets, mobile money, and Buy Now Pay Later choices, among others.