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Peach Payments was founded by Rahul Jain and Andreas Demlietner in Cape Town, South Africa in 2012. They believed African merchants deserved a better way of processing online payments using easy to use, cutting edge technology.
Peach Payments secured $1 million in seed funding from 88mph, a venture builder focused on early-stage startups. This funding helped Peach Payments establish and grow its digital payments platform to meet the needs of South African businesses.
Peach Payments experienced substantial growth in its merchant base and became a trusted partner for a range of industries. Notable early partnerships included SweepSouth, where Peach Payments enabled seamless online payments for domestic services in South Africa.
The COVID-19 pandemic accelerated ecommerce adoption, driving a significant increase in transaction volumes for Peach Payments, as businesses migrated online. Peach Payments raised an undisclosed amount in its first early-stage funding round, from Allan Gray and UW Ventures.
Peach Payments completed another round of early-stage funding from Allan Gray and UW Ventures, along with a new partner, Launch Africa. This funding was primarily aimed at expanding Peach Payments’ reach into new African markets, including Kenya and Mauritius.
Peach Payments underwent a strategic rebrand to signify its transformation from a South African payments company to a pan-African leader in payment solutions. The rebranding aimed to underscore our commitment to serving businesses across Africa with innovative payment tools.
Rahul Jain, the co-founder and CEO of Peach Payments, won the IESE 40 Under 40 Best Entrepreneur Award, celebrating his contribution to the fintech industry and Peach Payments’ impact on driving digital commerce in Africa.
Peach Payments raised US $31 million (R500 million) in a Series A funding round led by Apis Partners. The funding allows us to accelerating our expansion into more African markets and invest in technology to provide merchants with better payment infrastructure.
To enhance its in-house development capabilities, Peach Payments acquired Operativa, a custom software development firm. This acquisition bolstered its ability to deliver tailored solutions and strengthened its tech-driven approach to serving merchants.
Peach Payments was included in the Top 10 Fintech Startups in South Africa in recognition of its innovation, strong merchant relationships, and impact on the digital payment ecosystem.
Peach Payments has been recognized as one of the 100 Most Innovative Fintech Startups of 2024 by CB Insights, the leader in technology market intelligence. For our commitment to providing cutting-edge payment solutions to businesses of all sizes.
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