Baobab Payments GmbH, known as Peach Payments, has successfully concluded a €29 million funding round led by Apis Growth Fund II, managed by Apis Partners. Peach Payments is a digital payment service provider facilitating online payments for businesses of all sizes in Africa. The funds will be used to develop new products, expand into new countries, and strengthen market presence in South Africa, Kenya, and Mauritius. Peach Payments aims to simplify cross-border payments and further financial inclusion across the continent.
Key Points:
- Peach Payments, an enterprise-grade digital payment service provider, has raised €29 million in a funding round led by Apis Growth Fund II, managed by Apis Partners.
- The funding will be utilized to introduce new products, extend operations to new African countries, and consolidate market presence in existing locations.
- The payment platform seeks to simplify cross-border payments for businesses operating in multiple African countries, streamlining payment methods.
- The investment is expected to enhance online payment experiences for consumers and create opportunities for merchants to expand internationally.
Analysis: Peach Payments’ successful funding round reflects a growing interest in digital payment solutions in Africa. The investment from Apis Partners underscores the potential and demand for streamlined online payment services across the continent. As Peach Payments expands its reach, it aims to address the complexities associated with cross-border payments, providing a seamless experience for businesses and consumers. This funding will not only support Peach Payments’ growth but also contribute to advancing financial inclusion in Africa. The company’s focus on enhancing online payment experiences aligns with broader efforts to drive digital transformation and economic development in the region.
