Peach Payments acquired PayDunya, a prominent payment gateway in Francophone West Africa, on Thursday.

With this move, Peach Payments expands its operations to six new countries: Senegal, Côte d’Ivoire, Benin, Burkina Faso, Togo, and Mali, marking its breakthrough into mainland Francophone Africa.

PayDunya, founded in 2015 by Aziz Yérima alongside Youma Fall, Christian Palouki, and Honoré Hounwanou, has established itself as a fintech success story in the region.

With over 40 employees and more than 4,000 B2B clients, the company processes 70,000 transactions daily. It has been profitable since its third year of operation and continues to grow annually.

PayDunya facilitates online payments, mobile transactions, and bulk disbursements for notable clients such as Jeune Afrique and SUNU Assurances.

Peach Payments CEO Rahul Jain emphasised the strategic importance of this acquisition, stating, “By integrating PayDunya, we are expanding our footprint into the UEMOA and CEMAC regions, unlocking new opportunities for merchants who can now partner with us and access over 450 million people across these markets. Together, we can now offer seamless payment solutions across 12 countries”.

Unlocking growth in digital payments

The acquisition aligns with Peach Payments’ vision of building a pan-African payment ecosystem. The UEMOA region and neighbouring CEMAC countries represent substantial growth potential due to increasing smartphone penetration and mobile money adoption.

According to Statista projections, West Africa’s e-commerce market is expected to generate $15.33 billion in revenue by 2029, with user penetration reaching 12.5 per cent.

Aziz Yérima expressed optimism about the partnership, stating, “We are thrilled to join forces with Peach Payments. Together, we are poised to create a seamless, inclusive, and robust payment ecosystem that empowers African businesses to thrive in the digital economy”.

This acquisition follows Peach Payments’ recent €29 million Series A funding round in late 2023. The company has expanded its capabilities through acquisitions like Exipay for in-store payments and Operativa for software development.

Jain highlighted that the PayDunya deal will bolster cross-border payment capabilities and support international merchants entering Francophone Africa.