Deal Street

African Startup Funding Tracker

$1,129,592,550+

*Data updated daily at 18:00 EAT

South African Fintech Startup Payment24 Acquires Swiss Firm Inergy 24
South African Fintech Startup Payment24 Acquires Swiss Firm Inergy 24

South Africa’s Payment24, a global payments platform provider specializing in payment and loyalty solutions, has acquired Switzerland-headquartered Inergy 24 to accelerate its expansion in Europe. Its acquisition of Inergy 24 will see the company further expand in Europe, with the two businesses collectively providing customers throughout Europe with access to the Payment24 platform, including payment, fleet management, mobile and retail, loyalty, electric vehicle (EV), and cloud payments solutions.

Payment24 is a global platform specializing in payment and loyalty solutions for the financial, oil, retail, convenience, transport, and logistics industries. The startup has a presence on five continents and in 18 countries. As part of the agreement, the Payment24 team has appointed industry expert Alan McGown as the CEO of the Inergy 24 and joint Payment24 CEOs Rahil and Nolan Daniel will serve on the company’s board. Alongside ongoing investment and access to its platform, Payment24 will provide Inergy 24 with access to its development, support, sales, and marketing teams.