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Lesaka Technologies Acquires Adumo Fintech Platform for $85 Million 💳💰 🇿🇦

Lesaka Technologies Acquires Adumo Fintech Platform for $85 Million 💳💰 🇿🇦

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#payments
Learn about Lesaka Technologies' groundbreaking move to acquire Adumo, a leading payment platform in South Africa, in a deal worth $85 million. This acquisition expands Lesaka's payment footprint across southern Africa, signaling a significant shift in the region's fintech landscape.

Lesaka Technologies, a NASDAQ-listed fintech powerhouse, is set to acquire Adumo, a Cape Town-based payment platform, for a whopping $85 million in cash and equity. The acquisition, scheduled for completion in the third quarter of 2024, will bolster Lesaka's presence in the southern African region, extending its reach to five countries.


Founded in 2019, Adumo boasts a substantial market share, processing over $1.3 billion annually and serving 23,000 merchants and 240,000 consumers. This strategic move positions Lesaka as a key player in the evolving fintech scene, paving the way for further growth and dominance in the market.


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