About adumo
adumo is a Financial Services company based in Sandton (South Africa) founded in 2019 by Paul Kent, and was acquired by Lesaka in May 2024. Multi-channel payment processing and engagement solutions are offered. It operates on a FinTech and Commission-Based model. adumo has raised $25.94 million across 3 funding rounds from investors including Investec, International Finance Corporation and Crossfin. adumo has completed 2 acquisitions, including SwitchPay and Wirecard. Its chief executive, as recorded, is Paul Kent. adumo offers products and services including Card Machines, Online Payments, adumo Payouts, and Gift & Loyalty. Its focus areas include FinTech and Payment Processing. Its legal entity is adumo (RF) Pty Ltd. Its competitors include Yoco and Ozow; 2 of its 2 listed competitors have raised funding.
Company details
adumo is established as a provider of multi-channel payment solutions catering to businesses of varying sizes. Services are offered in the financial technology sector, focusing on in-store and online payment processing. Solutions such as card machines, integrated POS systems, and online payment gateways are provided. Additionally, customer engagement is enhanced through loyalty programs and gift card solutions. Employee incentive and payout solutions are also included to support workforce motivation. Operations are primarily based in South Africa, with a focus on scalable and affordable payment systems.
Products & Services of adumo
adumo offers a comprehensive portfolio of products and services, including Card Machines, Online Payments, adumo Payouts, and Gift & Loyalty.
Card machines are provided for in-store payment acceptance.
Online payments are facilitated through gateways and links.
Payout solutions are offered for payroll and incentives.
Loyalty rewards and gift cards are provided here.
Funding Insights of adumo
adumo has successfully raised a total of $25.94M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $10.94 million completed in November 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $25.94M
- Total Rounds 3
- Last Round Series B — $10.94M
- First Round $15M
(Feb 2021)
- Investors Count 5
All 3 funding rounds of adumo with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov 2022 | Debt – Conventional | – | – | ||
| Nov 2022 | $10.94M | Series B | – | – | |
| Feb 2021 | $15M | Series B | – | – |
6 investors in total: 6 institutional.
Investors in adumo
adumo has secured backing from 6 investors, including institutional and venture fund investors. Prominent investors backing the company include Investec, International Finance Corporation and Crossfin.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity and venture capital asset management firm | apis.pe | London, United Kingdom | ||
Investor in and builder of FinTech businesses in emerging markets | 2017 | crossfin.co.za | Cape Town, South Africa | |
IFC is focused on private sector development in emerging markets. | 1956 | ifc.org | ||
Capital is mobilized and invested in sustainable emerging market companies. | ifcamc.org | Washington, Dc, United States | ||
Global banking, investment, and wealth management services are offered worldwide. | 1974 | investec.com | London, United Kingdom | |
Bill payments, POS solution and card acceptance solution for consumers and businesses | 1997 | lesakatech.com | Cape Town, South Africa |
Investor details for adumo
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People of adumo
44 people are tracked at adumo (12 in leadership, 32 in team).
| Name | Role | Group |
|---|---|---|
Paul Kent | Founder & CEO | Leadership |
Steve Mallaby | Chief Executive - Adumo Payouts | Leadership |
Ricus Lourens | Head Of Bi, Data & Insights | Leadership |
Mathilda Robertson | Head Of Brand And Communications | Leadership |
Jodi Lea Kearns | Head Of Go-to-market | Leadership |
Ian Steyn | Adumo - Group Head Of Product | Leadership |
Ondina Pires | Group: Head Of Marketing | Leadership |
Chris Hardy | Chief Information Officer | Leadership |
Norman Nhliziyo | Head: Infrastructure And Devops | Leadership |
Corné Westhof | Head Of Growth - Africa | Leadership |
Amelia Williams | Head: Finance | Leadership |
Palesa Morebodi | Head: Operations - Adumo Payouts | Leadership |
Bradley van Diemen | Teamleader: Operations Technical WP | Team |
Kane G. | Information Security And Compliance Manager | Team |
Ashlina Karamchand | Group Financial Controller | Team |
Shirleigh Joubert | Key Account Manager And Team Leader | Team |
Kyle dos Santos | Key Account Manager | SME Growth Team, Adumo | Team |
Jacobus Nagel | Snr Systems Engineer | Team |
Caroline Kenyon | Key Account Manager | Team |
Nakedi Kobe | Assistant Operations Manager | Team |
24 more people are available in the full profile.
Complete people profiles for adumo
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Investments & Acquisitions by adumo
adumo has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include SwitchPay and Wirecard.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Alternative payment solutions for merchants | switchpay.co.za | Sandton, South Africa | 2018 | Nov 2021 | •••• | |
Payment processing solutions are provided for businesses and merchants. | wirecard.com | Aschheim, Germany | 1999 | Dec 2020 | •••• |
Complete acquisition details for adumo
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Timeline of adumo
6 dated milestones of adumo across 5 years, from founding to its latest funding, stage changes and deals.
Competitors of adumo
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| yoco.com | 2015 | Cape Town, South Africa | $102M | Payment processing solutions are offered to businesses and merchants. | ||
| ozow.com | 2005 | Johannesburg, South Africa | $48M | Payment processing solutions are provided for businesses and merchants. |
Detailed competitors of adumo
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Web traffic of adumo
The website of adumo (adumo.com) receives about 9.2K visits a month.
- Monthly visits9.2K
▼ 57.2% vs previous month
Websites whose visitors overlap most with adumo. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| google.com | 100% | 85.8B | #1 | View details | |
whatsonmycard.com | whatsonmycard.com | 97% | – | ||
zadropshipping.co.za | zadropshipping.co.za | 66% | #2,445,865 | – |
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Related news about Adumo
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Frequently Asked Questions about adumo
adumo was founded in 2019 and raised its 1st funding round 2 years after it was founded.
adumo is headquartered in Sandton, South Africa. It is registered at Sandton, Gauteng, South Africa.
Paul Kent is the CEO of adumo, as recorded in our data. They have also founded this company.
adumo is a funded company, having raised a total of $25.94M across 3 funding rounds to date. The company's 1st funding round was a Series B of $15M, raised on Feb 2021.
adumo is established as a provider of multi-channel payment solutions catering to businesses of varying sizes. Services are offered in the financial technology sector, focusing on in-store and online payment processing. Solutions such as card machines, integrated POS systems, and online payment gateways are provided. Additionally, customer engagement is enhanced through loyalty programs and gift card solutions. Employee incentive and payout solutions are also included to support workforce motivation. Operations are primarily based in South Africa, with a focus on scalable and affordable payment systems.
adumo offers Card Machines, Online Payments, adumo Payouts, and Gift & Loyalty.
adumo has 6 investors. Key investors include Investec, International Finance Corporation, Crossfin, Lesaka, and Apis Partners.
adumo operates through Adumo (Rf) Pty Ltd.
Yes. adumo was acquired by Lesaka in May 2024.