PODCAST | Peach Payments founder outlines plans for Africa expansion

Peach Payments’ growth plans are the focus of this edition of the Business Day Spotlight.

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Peach, the second-largest online payment gateway in SA, was founded by Jain and Andreas Demleitner in 2012 in Cape Town. It expanded to Kenya in 2018 and to Mauritius in 2021 and Jain says the company is looking to capitalise on the growth of e-commerce in Africa.

The company enables small and large merchants to accept, manage and make e-commerce and digital payments via mobile devices and the web. Clients include Zando and Aisha Pandor’s SweepSouth.

Jain sets out the company’s plan for funds received from its latest capital raising. Earlier in the year, Apis Growth Fund II, a private equity fund managed by Apis Partners announced an investment of €29m (about R579m) in Baobab Payments, which trades as Peach Payments.

A main focus is to expand the team, currently about 150 strong, as the group opens new offices. Before this funding round, he says company had only ever raised about $3m (about R56m).

Topics of discussion include Peach’s business model, founding and growth story; the value of having a management consulting background; raising capital; and plans for further growth.

Business Day Spotlight is a TimesLIVE Production.