Cape Town-based entrepreneur Rahul Jain’s fintech firm acquires software company

Omokolade Ajayi -

Key Point

  • Peach Payments acquires Operativa, integrating its team to enhance technical architecture and expand payment solutions.
  • Operativa Co-Founders, Dayne Olivier and Ben Janecke, to assume Principal Engineer roles at Peach Payments.
  • Peach Payments’ revenue has grown over 650% since 2020, following a $31 million funding round led by Apis Growth Fund II.

Peach Payments, a South African fintech firm led by Cape Town entrepreneur Rahul Jain, has announced the acquisition of customer software development company Operativa. The move comes in the wake of a $31 million funding round led by Apis Growth Fund II last year.

The acquisition will see Operativa’s entire team integrated into Peach Payments, with Co-Founders Dayne Olivier and Ben Janecke assuming Principal Engineer roles. The duo has played a crucial role in developing and maintaining Peach Payments’ systems since 2022. The full acquisition is expected to be completed by August.

Key roles and future prospects

Peach Payments praised the contributions of the Operativa team, stating, “The pair and their team have been instrumental in building the technical architecture that has paved the way for Peach Payments’ rapid expansion, including integrating additional payment methods such as Apple Pay, and onboarding new merchants and banking partners.”

Olivier expressed his excitement about the merger, saying, “We believe that the business has what it takes to become the undisputed payments leader in Africa. We see this acquisition as a call-up to the winning team.”

Janecke echoed this sentiment, highlighting their strong relationship with Peach Payments as a key factor in their decision to sell Operativa. “Our collaboration with Peach Payments has been fruitful, and we are confident that as an integrated entity, we’ll achieve even more,” he remarked.

From startup to fintech powerhouse

Founded in 2009 by Rahul Jain and Andreas Demleitner, Peach Payments started with a vision to revolutionize online payments in South Africa. The company, launched in Cape Town in 2012, participated in the Google Umbono accelerator, focusing on resolving issues faced by online merchants.

Under Jain and Demleitner’s leadership, Peach Payments has experienced significant growth, with revenue increasing by over 650 percent since 2020 and an 80-percent rise in 2022 alone. The company raised $31 million in a Series A funding round in 2023, with plans to drive further expansion across Africa and enhance its product suite.

Industry analysts are keen to observe how this merger will influence the digital payments landscape in Africa. With the acquisition of Operativa, Peach Payments is poised to strengthen its position as a leading fintech player on the continent.