Peach Payments expands into Francophone West Africa with PayDunya acquisition

Cape Town-based fintech company Peach Payments has reached an agreement to acquire PayDunya, a digital payments platform headquartered in Senegal. The move signals Peach Payments’ first entry into Francophone West Africa. The acquisition marks the company’s latest expansion after successfully entering markets in Eswatini, Mauritius, and Kenya.

Founded in 2012, Peach Payments offers digital payment tools that enable businesses to accept, manage, and disburse payments via mobile and web platforms. The company has grown significantly in the past few years, backed by US$31 million in funding, which has fueled its aggressive expansion strategy, including recent acquisitions.

PayDunya, which launched in Dakar in 2015, now operates across six francophone countries in West Africa. Its core product is a unified API that allows businesses to receive and send payments, streamlining both sales and day-to-day operations. The platform is known for making digital payments accessible to a broader range of African entrepreneurs and enterprises.

Aziz Yérima, CEO and co-founder of PayDunya described the merger as a significant opportunity for growth and collaboration.

“We are thrilled to join forces with Peach Payments,” he said. “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 is Peach Payments’ third deal since closing its most recent funding round in late 2023. CEO and co-founder Rahul Jain said the company is taking deliberate steps to expand its pan-African footprint.

“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 450m people across the markets we operate in. Together, we can now offer seamless payment solutions across 12 countries and we will continue to expand this coverage rapidly,” he said.

While many tech companies celebrate fundraising milestones, Jain explained what this expansion means to his organization.

“Peach Payments’ success wasn’t in raising the Series A Funding round. Success is in doing the hard work and expanding the business by putting that money to use. We’ve grown a lot and we are rapidly expanding into more countries. The PayDunya acquisition supports our expansion into West Africa and bolsters what we are doing for cross-border and international merchants.”

The transaction is expected to be finalized within the coming months, pending routine legal and regulatory procedures.

Payment innovation and integration in Francophone Africa

The acquisition of PayDunya comes at a time when digital financial services are becoming increasingly essential across Africa. In Francophone West Africa, mobile money has seen substantial uptake, but limitations in interoperability and digital infrastructure continue to affect seamless transactions across borders.

Francophone West Africa has historically lagged behind Anglophone countries in attracting fintech investment. Countries like Nigeria, Kenya, and South Africa have seen a surge in digital finance innovation due to more mature regulatory frameworks and larger consumer bases. However, the economic zones of UEMOA and CEMAC, home to countries such as Senegal, Côte d’Ivoire, and Cameroon, are now gaining attention from international players like Peach Payments.

These regions use shared currencies and financial regulations, which make it easier for companies to scale across borders once they enter one market. That strategic advantage is central to Peach Payments’ current move. The acquisition of a well-integrated, regionally recognized brand like PayDunya gives it a solid foothold in an otherwise fragmented ecosystem.

PayDunya supports both traditional mobile money operators and bank integrations, helping small and medium-sized businesses digitize their operations without needing multiple service providers.

The timing of this expansion aligns with broader efforts across Africa to deepen financial inclusion and promote cashless economies. Regional governments and central banks are introducing frameworks to encourage digital transactions, and international investors are increasingly looking toward Francophone Africa for growth opportunities. The deal is expected to spark new developments in financial technology integration and may encourage more cross-regional collaborations in the African fintech space.