In the most recent business investment round, Peach Payments, a local fintech, secured an undisclosed sum of funding.

Umkhathi Wethu Ventures led the round, with participation from other investors including Allan Gray and Launch Africa Ventures.

Peach Payments is a payment portal that enables companies to accept payments via their websites, mobile apps, SMS, and email.

It allows them to use credit/debit cards, bank transfers, mobile wallets, electronic wallets, and mobile operator billing as payment methods.

With operations in South Africa, Kenya, and Mauritius, Rahul Jain, co-founder of Peach Payments, says the funds will be used to accelerate growth outside of South Africa as well as scale up the business.

Source: Further Africa