Kenya: Online Payment Firm Gets Fresh Equity Funds

The Observer Kampala Moses Mugalu
Displayed with permission from allAfrica.com

Direct Pay Online Group (DPO), one of the online payment processing firms in Uganda, has received significant investment from Apis Growth Fund I.

According to Anthea Paula Turwomwe-Mascot, a manager at the firm’s Bukoto-based offices, Apis Growth Fund I, a private equity fund managed by Apis Partners LLP, recently acquired a significant stake in the DPO Group, previously known as 3G Direct Pay Limited.

Apis Partners LLP is a private equity asset manager that focuses on financial services in Africa and Asia.

DPO group operates across the East and Central Africa region with offices in Uganda, Kenya, Rwanda, Tanzania, Zanzibar and Zambia.

Turwomwe-Mascot says the Apis investment will support DPO group’s vision of building a pan-African payments processor.

The group serves more than 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 DPO group as one of the largest players in online payments in East Africa. The group processes payments from all major credit cards, mobile money and e-wallets.

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