Apis Partners Leads Peach Payment’s USD 31 M Series A Funding Round

Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, a UK-based asset manager, today announces its proposed investment of €29M (USD 31 M) in Baobab Payments GmbH, trading as Peach Payments, a growing digital payment service provider that enables online payments in Africa.

Completion of the investment is subject to the approval of the Competition Commission of South Africa and customary procedural and closing conditions. Peach Payments’ existing investors include UW Ventures, Launch Africa and AG Ventures. Apis Partners supports growth stage financial services and financial infrastructure businesses. Peach Payments is the second largest online payment gateway in South Africa, with activities in Kenya and Mauritius.

Peach Payments was founded by Rahul Jain and Andreas Demleitner in 2012 in Cape Town, South Africa, offering a payment gateway to local online merchants. The company provides a toolkit that enables merchants to accept, manage and make payments via mobile and the web. Services offered include online payment acceptance, pay-outs (disbursements), and subscription solutions across a variety of payment types including cards, electronic funds transfer, digital wallets, mobile money, and Buy Now Pay Later options, among others.