Senegalese fintech startup PayDunya to expand presence in francophone Africa

SENEGAL – Senegalese fintech startup PayDunya has expanded its footprint into Ivory Coast and Benin, and has revealed plans to have a presence in at least 10 francophone countries in Africa before the end of the year.

PayDunya is an easy-to-use universal multi-channel payment gateway and solutions provider, offering a single API for e-businesses anywhere in the world to process payments to and from African customers via mobile money, money transfer and credit cards.

Having started life in Senegal back in 2015, PayDunya now has more than 600 active business clients in its home market as well as in Ivory Coast and Benin, across sectors such as insurance, e-commerce, education and hospitality.

For the year 2020, the startup reveals that it records an average of 50,000 transactions per day with peaks at 65,000 transactions.

The fintech company currently employs 54 employees of about ten different nationalities and recorded a turnover of $2.96 million (€2.5 million) in 2019.

Co-founder and chief executive officer (CEO) Aziz Yérima says that the startup was focused on a strategy of geographic expansion at this point in time.

He further revealed that the stratup was strategically eying Francophone Africa and had plans to have a presence in at least 10 countries in the region before the end of 2020.

“We look forward to being a leader in the online payment market in French-speaking countries in Africa in the next five years,” Yérima added.

PayDunya’s aspirations go further, however, with Yérima saying it hoped to one day be active in 30 African countries, both Francophone and Anglophone.

PayDunya has added a host of products to its suite over the last few years, and now allows customers to do things like generate receipts, receive payments via mobile application, send invoices via SMS or email, set up recurring and automated payment collection, and pay thousands of people with one click.

Yérima said that the startup recently developed a new solution for social media sellers which allows them to create their own landing page for their shop.

While m-payment remains dominated by English-speaking players, PayDunya, the Senegalese fintech company intends to impose itself on the West African market, before conquering the rest of the continent.

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