Lesaka Technologies acquires adumo for R1.59 billion

Lesaka Technologies Inc. , the Nasdaq-listed #fintech with a market capitalisation of R4.5 billion ($242 million), is acquiring payment platform adumo for R1.59 billion ($85 million) in cash and equity. The deal is scheduled to be completed in the third quarter of 2024 and will extend Lesaka’s payment footprint in the southern African region to five countries. Founded in 2019, #CapeTown-based #Adumo provides card-acquiring POS devices, integrated payments and reconciliations services to merchants and consumers. The company claims to process over R24 billion ($1.3 billion) annually and has 23,000 merchants and 240,000 consumers using its services respectively. Lesaka currently owns #EasyPay, #SouthAfrica’s largest payment switch not owned by a bank and #Kazang, a widely popular card-acquiring POS device company. A combination of the services will enable the company to grab a significant market share in the southern African region, where competing startups like Yoco are still only based in South Africa (https://lnkd.in/d2hHVEMq) - TechCabal

Nigeria's OmniRetail Acquires Nigerian Fintech Traction Apps - WeeTracker: By merging the platforms, OmniRetail and Traction will scale profitability while optimizing costs, creating a more efficient service model.

OmniRetail Acquires Traction Apps to Enhance Retail Financial Services in Nigeria OmniRetail Technology Limited, named Africa’s fastest-growing company in the FT Rankings 2024 has acquired Traction Apps, a payment solutions provider for small merchants in Nigeria. Traction raised USD 6 M last year and currently serves sectors including retail, supermarkets, restaurants, and fashion. OmniRetail, which launched OmniPay in 2022, provides a platform that integrates with 13 financial service providers and leverages transaction data to generate credit scores for underserved retailers. This acquisition will allow OmniRetail to integrate Traction's POS services into OmniPay's ecosystem, creating a more comprehensive financial platform for retailers. The acquisition will be implemented in phases, with full integration expected by Q1 2025. The combined entity is expected to serve 180,000 customers, project annual transaction volumes of USD 1 B, and facilitate loans worth USD 122 M annually. Follow more startup stories at https://ow.ly/c4yf50TRpVk #OmniRetail #TractionApps #Fintech #RetailTech #Payments #Nigeria #MergersAndAcquisitions #OmniPay

Exciting News: Flatpay Raises €45M in Series B Funding to Revolutionize Payment Solutions for Merchants Across Europe! 🚀💳 Flatpay, the pioneering Danish fintech firm, has recently concluded a monumental €45M Series B funding round led by Dawn Capital, Europe’s leading B2B software investor, alongside Seed Capital Denmark and other notable investors. This significant investment marks a major milestone for Flatpay as it accelerates its mission to simplify payment processes and financial management for merchants. Since its inception in 2022 by visionary entrepreneurs Sander Janca-Jensen, Rasmus Busk, Rasmus Hellmund Carlsen, and Peter Lüth, Flatpay has rapidly expanded its reach into key markets like Finland and Germany. Offering merchants unmatched service, transparent pricing, and intuitive solutions, Flatpay has quickly become a trusted partner for businesses seeking seamless payment solutions. 🚀🙌 With this fresh injection of capital, Flatpay is poised for exponential growth, with plans to solidify its position as the premier financial management platform for businesses across Europe. 🙌 👉 https://lnkd.in/dhsRvPYh #Fintech #Payments #Retail #Platform #Funding #Startup Ditte Gerner Dyhr Chris Crespo Stian Faber Carsten Christensen Damián Džamba

Global Payments Inc. acquires Yazara to enhance SoftPOS solutions #GlobalPayments Inc. has acquired #Yazara, a strategic move that will enhance their SoftPOS technology offerings and expand their reach in the global acquiring market. Yazara, #Fintech startup known for enabling merchants to accept contactless payments, will now benefit from Global Payments’ extensive network, which serves over 5 million merchants across more than 100 countries. This acquisition, led by Yazara's founders and backed by Global Payments’ robust resources, aims to accelerate the deployment of SoftPOS solutions into new geographies and merchant verticals, providing enhanced features and services. The combined expertise of both companies will drive innovation, allowing them to capture a significant share of the growing SoftPOS market worldwide and support merchants of all sizes in boosting their revenues through seamless payment solutions. The article on Finextra in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

Nuvei expands into Japan with PAYWISER acquisition to boost eCommerce payments Nuvei, a Canadian FinTech company, has announced its expansion into the Asia-Pacific (APAC) region through the acquisition of Paywiser Japan. Read the story here: https://lnkd.in/gT-uCZi9 #FinTech #Japan #PayTech Louis Georgakakis Carolina Libardi

The digital commerce in MENA in recent years saw digital payment volumes grow by 658% since 2020, according to Checkout.com’s "The State of Digital Commerce in MENA 2024" report. the report highlights the impressive 80% growth since 2020 in the number of MENA consumers who report shopping online at least once a day. #Startups #Mena #Funding #Ecommerce #Fintech #Finance

Introducing PayinBytes: Revolutionizing E-commerce and Fintech in Nigeria In the fast-paced streets of Lagos, Uyo and Port Harcourt, four visionaries Edidiong, Matthew, Jude, and Patrick gathered to solve a problem that had long frustrated Nigerians: the inefficiencies in e-commerce and financial transactions. Each brought their unique expertise, but their true strength was their shared vision of building something transformative for the Nigerian economy. They were inspired by the challenges faced by everyday Nigerians. Retailers struggled with rigid payment systems, consumers lacked trust in transactions, and businesses faced steep costs for bulk purchases. They realized that by combining their skills, they could create a platform to bridge these gaps and empower millions. After weeks of brainstorming and collaboration, PayinBytes was born. It isn’t just another platform, it is a united effort to revolutionize e-commerce, real estate, and financial transactions. Together, they envisioned features that would redefine how Nigerians can pool purchase resources, a payment solution for secure and seamless transfers, and digital tokens convertible to cryptocurrency/fiat currencies. Their teamwork drove every decision, from ensuring transparency in wholesale transactions to designing an intuitive user experience for real estate and luxury goods buyers. By focusing on inclusivity, trust, and innovation, they are building a platform where Nigerians can shop, invest, and connect like never before. Today, PayinBytes represents the power of collaboration a testament to how shared dreams can reshape industries and empower communities. Welcome to PayinBytes: where we are “Empowering Connections”, and “Redefining Commerce”.

Palmpay, Jumia Partner to Enhance Digital Payments in Nigeria - MarketForces Africa: PalmPay, a leading Africa-focused fintech and Jumia, an e-commerce company have announced a strategic partnership to enhance Nigeria's digital ... #finpeform #fintech

Palmpay, Jumia Partner to Enhance Digital Payments in Nigeria - MarketForces Africa: PalmPay, a leading Africa-focused fintech and Jumia, an e-commerce company have announced a strategic partnership to enhance Nigeria's digital ...