PayRetailers, the Latin America-based payment processor, has expanded into Kenya and seven other markets in the region, bringing its total presence on the continent to 12 countries.
- •The fintech is now present in Burkina Faso, Cameroon, Kenya, Ivory Coast, Ghana, Senegal, South Africa, and Nigeria.
- •Three months ago, it launched operations in Uganda, Rwanda, Tanzania, and Zambia.
- •PayRetailers is in an aggressive growth phase, and plans to expand to more countries in the continent as well as Europe.
“Expanding into eight new markets marks a significant milestone for PayRetailers as we continue our mission to bring tailored payment solutions to diverse regions. Africa is a vibrant and varied continent, with payment preferences that differ from region to region,” Jonathan Vintner, Global Head of Sales at PayRetailers said in a statement.
Founded in 2017 by Juan Pablo Jutgla, PayRetailers offers solutions for e-commerce through a combination of its technology and commercial agreements that allow for local payment methods. In May, the fintech acquired the Brazil-based company Transfeera, expanding its presence in the country to 100 employees, a fifth of its global staff numbers.
PayRetailers’ expansion on the continent follows of a growing trend of Latin America based fintechs setting up operations in Africa, betting that similar economic demographics and business challenges represent a chance for growth. Other fintechs that have announced operations in recent months include Minka, and Conduit.
