We’re thrilled to announce that Peach Payments has been recognized as one of the 100 Most Innovative Fintech Startups of 2024 by CB Insights, the leader in technology market intelligence. This recognition – by a global leader like CB Insights – is a testament to our commitment to providing cutting-edge payment solutions that empower businesses of all sizes.
“The 2024 Fintech 100 winners are high-momentum companies shaping the future of financial services,” said Laura Kennedy, Principal Analyst at CB Insights. “Unsurprisingly, this year’s cohort is deploying AI across a wide variety of solutions. But they’re also diverse in their reach in emerging and developing economies, and focus on everything from fraud prevention to financial inclusion.”
The list primarily includes early- and mid-stage startups driving innovation across fintech.
Peach Payments CEO Rahul Jain says: “The company is excited to be included, and that the accolade is recognition of the work put in to achieve the company’s aim: to deliver an enterprise-grade payments solution for merchants of all sizes to assist them to grow and achieve their business goals.”
Quick facts on the 2024 Fintech 100
- The 100 winners include 13 wealth management companies, 11 in embedded finance, and 10 in insurance.
- The 2024 cohort is deploying AI across a wide variety of use cases and features a notable number of solutions driving financial inclusion and accessibility.
- $7.1B in equity funding raised over time, including more than $2B in 2024 so far (as of 10/17/2024).
- Nearly 50% are early-stage companies (primarily seed/angel or Series A).
- 51 companies from outside the United States, across 23 countries on 6 continents. This includes 17 companies from 11 emerging and developing economies.
- 850+ business relationships since 2022, including with industry leaders like Mastercard, State Street, and Flipkart.
How Peach Payments helps businesses scale
Peach Payments keeps customers and users at the centre of everything we do, allowing merchants to focus on what they do best while we take care of their payment needs. Over the years we’ve taken immense satisfaction from seeing seminal brands like SweepSouth, WumDrop, Netflorist, Pargo, Petheaven, and Dineplan scale effectively using our various payment gateway solutions.
With continuous learning and development central to what we do at Peach Payments, we’re also proud to have pioneered fintech firsts for South Africa – like subscription models, one-click payments, mobile integration, and gig-economy payment solutions.
What’s next?
Having raised $31m in our Series A fund raise in 2023, Peach Payments is ready to scale its offerings to more businesses in more geographies and verticals. Our mission is to enable African businesses and entrepreneurs to succeed in digital commerce. We want to continue to be the go-to partner for enterprise payments orchestration across Africa.
To assist these businesses, we’ve added a point of sale (POS) solution and the rollout of more payment methods to give businesses the opportunity to combine their online and offline sales in one robust dashboard.
Peach Payments witnessed incredible growth in the past three years driven by fundamental forces and shifts in consumer and business adoption of digital commerce. Across market segments – from retail to digital learning, fitness, and even traditional financial services – we’ve onboarded new clients in almost every vertical. Our research with Arthur Goldstuck, Mastercard, AskAfrica shows that just online retail will grow from R71B to R100B by 2026. Our team, led by seasoned executives from across financial services and retail, is poised to continue this exceptional growth based on solving the payments challenges across Africa.
