Peach Payments a South African fintech startup has raised an undisclosed additional funding round for further growth.
The funding round was led by UW Ventures who also took part in the previous funding round. Launch Africa Ventures and Allan Gray as well as other investors participated in the funding round.
Peach Payments allows businesses to easily accept payments on their websites and mobile apps. According to the website, the startup builds online payment systems for Africa.
Rahul Jain, Co-founder of Peach Payments commented that the additional funding secured is aimed at expanding beyond South Africa and upscaling the startup’s present products and services.
“This new investment round is a great indicator of the confidence our investors have in our core business model and hypothesis. Peach set solid growth targets for itself in 2020, and we far outperformed those expectations.”
According to Rahul, the pandemic and acceleration towards digital commerce as driven the startup’s growth as it invested massively in targeted areas.
The goal of Peach Payments according to its website is to provide brilliant experiences for its customers and users.
“In everything we do, we strive to make it as easy as possible for our merchants to focus on their business while we take care of their payment needs.”, a statement reads on the website.
Businesses that are selling products or services through digital channels can use the Peach Payments platform to manage payments seamlessly.
“We integrate with WooCommerce, Shopify, Wix and Magento — the leading ecommerce platforms globally — and our modern API allows for custom integrations.”
The fintech startup works with ventures in South Africa, Kenya and Mauritius, and it is rapidly expanding its presence to other countries across the continent.
Peach Payments products include Payments, Recurring, Playsafe, PayOuts and Protect.
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