Peach Payments, a South African fintech startup, has set up an office in Mauritius as part of its pan-African expansion, which initiated in Kenya in 2018.
Peach Payments, which was founded in 2012 in South Africa, allows businesses to accept payments on their websites and mobile apps by integrating with popular e-commerce platforms such as WooCommerce, Shopify, Wix, and Magento.
In 2018, the startup expanded to Kenya, and it has also launched an office in Mauritius. It marked the occassion by sponsoring last week’s virtual Africa FinTech Festival (AFF), as well as announcing plans for future expansion.
“Growth into Africa is key, and our expansion into Mauritius has been an eagerly awaited milestone, based on the island economy’s stellar reputation as a fintech hub for Africa,” Peach Payments co-founder Andreas Demleitner, said.
“While scaling up our current operations in Kenya and Mauritius, the team is investigating opportunities in other East and West African countries.”
Peach Payments saw a 400% increase in customer acquisition and a 130% increase in revenue last year.
Following a funding round led by UW Ventures in partnership with Allan Gray last year, the company raised a new round of funding in April 2021, led by UW Ventures in partnership with Allan Gray, with Launch Africa Ventures and other existing investors. The funds collected in these rounds will be utilized to expand the company’s operations into Africa.