PRESS RELEASE: Apis Partners announces investment in The Direct Pay Online Group

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  • Apis to acquire a significant stake in the DPO Group, previously known as 3G Direct Pay Limited
  • The DPO Group is the leading online payments processor in East Africa, with operations across Kenya, Uganda, Rwanda, Tanzania (including Zanzibar), and Zambia
  • The investment will support the DPO Group’s vision of building a pan-African payments processor

 

The Direct Pay Online Group (“DPO Group”), the leading online payments processor in East Africa, has received a significant investment from Apis Partners LLP (“Apis”), a private equity asset manager focused on financial services in the growth markets of Africa and Asia.

The DPO Group, formerly known as 3G Direct Pay Limited, launched operations in 2006 starting with Kenya, and has now expanded to Zambia, Uganda, Rwanda and Tanzania, including Zanzibar. The Group serves over 5,000 clients in the region, including over 40 airlines, hundreds of hotels, and thousands of travel agents and tour operators. This broad client base has established the DPO Group as the largest player in online paym on homents in East Africa. The Group processes payments from all major credit cards, mobile money and e-wallets, and is the only Payment Service Provider in East Africa holding PCI DSS Level 1 Certification, the highest security certification in the payment cards industry.

By 2020, smart-phone penetration across the African continent is expected to grow three-fold to over 540 million handsets. This increase, combined with improved access to 3G networks and reduced data costs, is expected to spur strong growth in online and mobile commerce. The DPO Group aims to assist both entrepreneurs and enterprises in accessing these new customers by providing a seamless and scalable payment solution for all online and mobile payments regardless of geography, payment type or platform. The investment by Apis will ensure that the DPO Group continues to lead the market in providing bespoke solutions to both existing and new clients.

“Since it was founded, the DPO Group has sought to empower African businesses to efficiently sell their products online and receive payment through a wide variety of methods.” said Eran Feinstein, the Group CEO. “The investment by Apis validates the strength of our platform and supports our vision of building the leading pan-African payments processor. 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.”

Offer Gat, the Group Chairman, added that “Our aim at the DPO Group is to revolutionise the payments arena in Africa by giving freedom to everyone to pay and be paid online anywhere, anytime, and by any mode of payment. Apis has deep expertise in emerging markets and a track record of partnering with entrepreneurs, which will be crucial in executing our high growth strategic expansion plan for the coming years.”

Speaking on the investment, Matteo Stefanel, Apis Co-Founder and Managing Partner, said “The investment in the DPO Group is a strong representation of Apis’ strategy of investing in well-managed businesses operating in high-growth sectors and providing quality services to African consumers. The shift of consumers from physical to digital channels is one of the most significant trends in our markets, and we believe online payments are at the centre of these developments.”

Udayan Goyal, Apis Co-Founder and Managing Partner, added that “The DPO Group, with its well-established business model, best in class technology platform, talented team, excellent fraud prevention systems and an exceptional track record of conversion and customer management, is an ideal investment for Apis.  We are looking forward to working with the team to serve more merchants and improve the online shopping experiences of consumers in Africa.”

Please click here for a downloadable version of the press release.

 

About Direct Pay Online Group

The DPO Group (www.directpay.online​) is the leading online payments processing solution in East Africa. It serves thousands of online merchants in Kenya, Uganda, Rwanda, Tanzania (including Zanzibar) and Zambia, including leading travel and tourism-related businesses in the region. The Group accepts all major credit cards, mobile money and e-wallets, and is a leader in technology, usability and security across the region. It is currently the only Payment Service Provider in East Africa holding PCI DSS Level 1 Certification, the highest security certification in the payment cards industry, ensuring high levels of safety, security and data privacy. The Group is leading the way in digital payments in the region, and recently introduced a mobile application that enables merchants to process payments through their mobile phones using a mobile Point of Sale device.

 

Media contacts:

Ed Gascoigne-Pees, + 44 (0)20 3757 4984, [email protected]

Hazel Stevenson, + 44 (0)20 3757 4989, [email protected]