PE fund backs Kenyan payments firm DPO Group

East African payments processor Direct Pay Online Group (DPO Group) has received an investment from Apis Partners.

The private equity firm, which focuses on backing financial services businesses in Africa and Asia, will take a significant stake in the firm as a result of the deal.

The Nairobi-based company launched in 2006 and now serves Zambia, Uganda, Rwanda and Tanzania, including Zanzibar.

DPO Group says it serves more than 5,000 clients enabling them to accept online and mobile payments regardless of geography, payment type or platform.

The company will use the capital to further grow its geographical footprint.

DPO Group CEO Eran Feinstein said, “We aim to expand our local presence to more than 10 countries across East, West, and Southern Africa over the next year, and to offer merchant acquiring abilities in 25 countries across the whole continent.”

Copyright © 2016 FINTECH GLOBAL

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