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Peach Payments Secures $30M Funding Deal to Accelerate Growth in Africa

New Investments

Peach Payments Secures $30M Funding Deal to Accelerate Growth in Africa

Peach Payments, a leading South African digital payment service startup, has secured a $30 million funding deal led by Apis Growth Fund II and participation from Enza Capital.

The funding will accelerate the company’s growth in Africa, develop new products, and expand into new markets.

Peach Payments was founded in 2011 and has since grown to become one of the largest digital payment service providers in Africa.

The company offers various payment solutions to businesses of all sizes, including online payments, mobile payments, and point-of-sale payments.

Peach Payments is headquartered in Cape Town, South Africa, and has offices in Kenya, Mauritius, and Nigeria.

The funding deal is a sign of investor confidence in Peach Payments and the African digital payments market.

Africa is one of the fastest-growing digital payments markets in the world, and Peach Payments is well-positioned to capitalize on this growth.

Peach Payments CEO Rahul Jain emphasized the company’s commitment to simplifying the payment landscape for businesses expanding across Africa.

The fintech startup’s unique feature allows businesses to seamlessly transition into new African countries without having to find new payment partners.

With up to 12 different payment methods, including credit cards, debit cards, instant EFTs, various buy-now-pay-later options, and electronic vouchers, Peach Payments offers a comprehensive solution to the fragmentation in payment methods that plagues many African markets.

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Edith Brou Bleu

Edith Brou Bleu

Edith Brou Bleu, the Ivorian entrepreneur, influencer, TV panelist, and radio host, who has left an indelible mark on the technological sphere of Côte d’Ivoire.

 

Born in Abidjan, she is considered one of the most influential figures in the technological sphere of Côte d’Ivoire. Edith co-founded the first Ivorian women’s webzine, “Ayanawebzine,” and played a pivotal role in establishing “Kessiya,” a continuous news media outlet in Côte d’Ivoire. Her contributions have transformed the digital landscape and empowered and amplified women’s voices in the tech and media industries.

Edith is also a passionate advocate for the use of technology to promote education and social development in Africa.
Her tireless efforts have inspired countless individuals to harness the potential of digital tools for positive change. In recognition of her remarkable achievements and influence, Edith was named one of the “100 Most Influential Women in Africa” by The Africa Report in 2022. This accolade solidifies her status as a role model for many African young people and an inspiration to women entrepreneurs and digital activists worldwide.

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Dr Omolola is an experienced oncologist with a demonstrated public and private healthcare history and a social entrepreneur.

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Adewale Yusuf

Adewale Yusuf

Adewale Yusuf is a Nigerian tech entrepreneur and technology enthusiast known for his involvement in the tech startup ecosystem in Nigeria and Africa.

 

Yusuf’s entrepreneurial spirit has led him to spearhead several tech ventures that have left an indelible mark. He has been at the forefront of initiatives aimed at solving real-world problems and making a difference in people’s lives through technology.

Yusuf is the Co-Founder of three tech ventures, including TalentQL (Techstars ’21), Techpoint Africa and 
AltSchool Africa. AltSchool Africa is an edtech platform that helps one learn the skills they need to build and grow the career they want. Adewale’s impact extends far beyond the borders of Nigeria. He has been a bridge between Africa and the global tech community, fostering collaborations, and showcasing the immense potential of African innovation on the world stage.

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Philip is an experienced Rwandan entrepreneur and investor with a strong background in business development, investment management, and leadership.

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Ethiopia-based Micro-Insurance Startup Jamii.One Secures New Investment From Renew Capital

New Investments

Ethiopia-based Micro-Insurance Startup Jamii.One Secures New Investment From Renew Capital

Renew Capital, an impact-focused venture capital firm investing in early-stage African startups, has backed Ethiopia-based micro-insurance startup Jamii.one with a new investment.
 
The round also included participation from existing investors Blue Haven Ventures and angel investors.

Jamii.one is a digital micro-insurance platform that provides affordable and accessible insurance products to low-income individuals and communities in Ethiopia.
 
The company’s products include crop, livestock, and health insurance.

Renew Capital’s investment will be used to help Jamii.one expand its product offerings, reach new customers, and grow its team.
 
The company plans to launch new products, such as income protection insurance and funeral insurance, in the coming months.

Ethiopia is one of the poorest countries in the world, and over 80% of the population lives in rural areas.
 
Access to insurance is very low, with only 1% of the population having any type of insurance policy.

Jamii.one is helping to address this gap by providing affordable and accessible insurance products to low-income individuals and communities.
 
The company’s products are designed to help people protect themselves from financial hardship caused by unexpected events such as crop failure, livestock death, or illness.

Jamii.one’s platform is easy to use and can be accessed via mobile phone or the internet.
 
The company offers a variety of payment options, including mobile money and cash.

Renew Capital’s investment in Jamii.one is a positive development for the Ethiopian insurance market.

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Ousamane Diagana is a Mauritanian economist dedicated to improving lives and fostering sustainable development in West Africa.

 

He is currently serving as The World Bank Regional Vice President for Western and Central Africa. In this pivotal position, Mr. Diagana shoulders the responsibility of nurturing relationships with 22 countries while overseeing a vast portfolio of projects, technical assistance initiatives, and financial resources valued at over $40 billion. His impressive journey with the World Bank includes serving as the Country Director for Côte d’Ivoire, Burkina Faso, Benin, Guinea, and Togo, with his base in Abidjan.

Preceding this role, he held the position of Country Director for Mali, Niger, Chad, and Guinea, stationed in Bamako.
Ousmane Diagana’s career has been marked by visionary leadership and a deep commitment to making a positive impact on the lives of millions across Western and Central Africa. His unwavering dedication to development has made a significant difference in the region. Under Ousmane’s leadership, the Western/Central Africa Region at the World Bank has seen remarkable progress in addressing critical challenges such as poverty reduction, infrastructure development, healthcare, and education.

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Aida Diarra

Aida Diarra

In a world where financial inclusion and digital transformation are at the forefront of global progress, we can’t help but shine a spotlight on one remarkable leader who has been driving positive change in Sub-Saharan Africa.

 

Meet Aida Diarra, the Head of Sub-Saharan Africa at Visa, and a true visionary in the realm of payments and financial services. Aida Diarra has dedicated her career to making financial services accessible to all, especially in regions where this access was limited. Her tireless efforts have empowered countless individuals and businesses across Sub-Saharan Africa, paving the way for economic growth and prosperity.

Aida’s work at Visa has been instrumental in shaping the digital payments landscape in Africa.
Her innovative strategies and partnerships have accelerated the adoption of digital payments, providing secure and convenient financial solutions to communities across the continent. Aida’s leadership is an inspiration to many aspiring leaders, particularly women in the tech and financial sectors.

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Samy Mwamba

Samy Mwamba

Samy Mwamba is a Congolese edtech entrepreneur making a significant impact on the African continent.

 

He is the Co-Founder and CEO of Itot Africa, a DRC-based startup providing customised digital content, coding, programming, training and e-learning to businesses, SMEs and entrepreneurs in Africa and the United States. Founded in 2017, Itot Africa has emerged as a beacon of hope for countless young Africans seeking to enhance their skills and embrace the opportunities offered by the digital realm. The impact of Itot Africa is far-reaching.


By offering accessible and relevant education, they are not only enhancing employability but also nurturing the entrepreneurial spirit of countless African youth.
Through their efforts, individuals are gaining the confidence and knowledge to harness the power of technology for their growth and the prosperity of their communities. Samy Mwamba’s work with Itot Africa is a shining example of what can be achieved when passion, innovation, and a commitment to education converge.

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South African Insurtech Startup Root Secures $1.5M for Europe Expansion

New Investments

South African Insurtech Startup Root Secures $1.5M for Europe Expansion

Root, a South African insurtech startup, has secured $1.5 million in funding to accelerate its expansion plans in the UK and Europe.
 

The funding round was led by Invenfin, the venture capital arm of Remgro Limited.

Root was founded in 2016 by Louw Hopley and provides an end-to-end insurance platform that enables companies to build, sell, and manage digital insurance products.

The company’s platform is low-code and API-first, making it easy for businesses to develop and deploy custom insurance solutions.

Root has already established a presence in the UK and Europe, and its platform is being used by a number of leading insurers and fintech companies.

The fresh funding will allow Root to expand its team and further develop its platform to meet the growing demand for embedded insurance.

Embedded insurance is a new way to distribute insurance products, in which insurance is embedded into other products and services.

For example, a car rental company might offer embedded insurance to its customers to protect them against accidental damage.

Embedded insurance is a rapidly growing market, and Root is well-positioned to capitalize on this growth.

The company’s platform makes it easy for businesses to offer embedded insurance products, and Root has a strong track record of working with leading insurers and fintech companies.

Root’s new funding round is a significant milestone for the company and for the African insurtech ecosystem.

It is a testament to the growing interest in investing in African startups and to the potential of Root to make a positive impact on the global insurance industry.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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Delphine Traoré 

Delphine Traoré

Delphine is a prominent figure in the finance and insurance industry and has played a significant role in the African business landscape.

She is the CEO of SanlamAllianz, one of the largest insurance companies on the continent. Under Delphine’s visionary leadership, Allianz Africa has achieved unprecedented milestones. She has been at the forefront of steering the company’s expansion across the continent. Her dedication to innovation has resulted in the development of innovative solutions that address the diverse needs of Allianz Africa’s clients.

Delphine, who is a passionate advocate for women’s empowerment and financial inclusion, serves as an inspiration to countless individuals, especially women, who aspire to reach the pinnacle of leadership in the financial and insurance sectors.

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Lewam Kefela is a Principal at Partech Africa, a leading venture capital firm investing in early-stage startups in Africa.

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