Kenya’s online payments firm 3G DirectPay has raised an undisclosed funding from Apis Partners LLP, a private equity asset manager focused on financial services in the growth markets of Africa and Asia and rebranded to Direct Pay Online Group, with plans to launch in over 10 new countries.
announced, ”We are delighted to announce that we have a new look and a new name. As from today, 3G Direct Pay will now be renamed The Direct Pay Online Group (“DPO Group”). We have received a significant investment from Apis Partners LLP.”
”We aim to expand into over 10 countries across East, West, and Southern Africa over the next year, and to offer payment options across the whole of the African continent,” he said.
Founded in 2006 in Kenya, the group serves over 5,000 clients in East Africa, including over 40 airlines, hundreds of hotels, and thousands of travel agents and tour operators. The group’s biggest competition is Kenya’s PesaPal, JamboPay and iPay, and Impala Pay Ltd.
While DPO has majorly focused on online payments from all major credit cards, with a scattered clientel of mobile money and e-wallets. PesaPal has found success in mobile utility and bill payments for various merchants in the country as well events and bank payments integration. On the other hand, JamboPay has found success as the most preferred e-gov services payments platform.
However, DPO still claims to be the best in the market as they are the only ones in East Africa holding PCI DSS Level 1 Certification, apart from InterSwitch wich was founded in Nigeri and acquired PayNet Group’s PesaPoint.
”We plan to revolutionise the payments arena in Africa by giving freedom to everyone to pay and be paid online anywhere, anytime, and by any mode of payment,” said Eran. ”Apis has deep expertise in emerging markets and a track record of partnering with entrepreneurs, which will be crucial in executing our high growth strategic expansion plan for the coming years.”
Eran says the investment by Apis validates the strength the DPO Group platform and supports the Groups vision of building the leading pan-African payments processor.