Peach Payments, a South African-based payment gateway for local online merchants, has announced that it has received a €29m ($31m) investment from Apis Partners, a growth-stage financial services and financial infrastructure investor. The investment will be used to support the company's expansion plans and accelerate its growth trajectory.
Founded in Cape Town in 2012, Peach Payments provides a toolkit that enables merchants to accept, manage, and make payments via mobile and the web. The company has expanded to Kenya in 2018 and Mauritius in 2021, with its goal of becoming the go-to payment infrastructure provider that helps businesses scale. Peach Payments is known for delivering enterprise-grade products, high end-user conversion, best-in-class risk management, and actionable insights, backed by exceptional customer support to its merchants.
As an ESGI-native investor, Apis Partners aims to maximize financial inclusion by enabling more merchants to participate and grow in the digital economy. The company specializes in supporting growth-stage financial services and financial infrastructure businesses and plans to leverage its extensive experience in scaling payment companies to support Peach Payments' growth.
Matteo Stefanel, Co-Founder, and Managing Partner of Apis Partners, expressed his confidence in African payments and Peach Payments' potential to drive digital commerce in the continent. Rahul Jain, Co-Founder, and CEO of Peach Payments, shared his vision of becoming the infrastructure layer for African businesses and entrepreneurs to build their businesses on.
The investment from Apis Partners is expected to help Peach Payments achieve its goal of becoming the go-to payment infrastructure provider in Africa and capitalize on the significant opportunity in African payments.
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