About adumo
adumo is a company based in Sandton (South Africa) founded in 2019 by Paul Kent was acquired by Lesaka in May 2024. It operates as a FinTech, and Commission-Based. 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. adumo offers products and services including Card Machines, Online Payments, adumo Payouts, and Gift & Loyalty. adumo operates in a competitive market with competitors including Flutterwave, Yoco, Network International, Ozow and Dlocal, among others.
- Headquarter Sandton, South Africa
- Founders Paul Kent
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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- Legal Name Adumo (Rf) Pty Ltd
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Products & Services of adumo
adumo offers a comprehensive portfolio of products and services, including Card Machines, Online Payments, adumo Payouts, and Gift & Loyalty. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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.
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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 Total Funding
- Total Rounds 3
- Last Round Series B — $10.9M
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First Round
First Round
(05 Feb 2021)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Nov, 2022 | Amount | Debt – Conventional - adumo | Valuation |
investors |
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| Nov, 2022 | Amount | Series B - adumo | Valuation |
investors |
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| Feb, 2021 | Amount | Series B - adumo | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private equity and venture capital asset management firm
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Founded Year | Domain | Location | |
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Investor in and builder of FinTech businesses in emerging markets
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Founded Year | Domain | Location | |
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IFC is focused on private sector development in emerging markets.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by adumo
adumo has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include SwitchPay and Wirecard. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Alternative payment solutions for merchants
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2018 | ||||
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Payment processing solutions are provided for businesses and merchants.
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - adumo
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Adumo Comparisons
Competitors of adumo
adumo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Flutterwave, Yoco, Network International, Ozow and Dlocal, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Provider of payment processing solutions for businesses
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| domain | founded_year | HQ Location |
Payment processing solutions are offered to businesses and merchants.
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| domain | founded_year | HQ Location |
Network International is recognized as a leading digital payment provider in the Middle East and Africa.
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| domain | founded_year | HQ Location |
Payment processing solutions are provided for businesses and merchants.
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| domain | founded_year | HQ Location |
Global payment processing is facilitated for businesses through diverse methods.
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| domain | founded_year | HQ Location |
Digital payments are processed and managed via specialized solutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Adumo
Frequently Asked Questions about adumo
When was adumo founded?
adumo was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Where is adumo located?
adumo is headquartered in Sandton, South Africa. It is registered at Sandton, Gauteng, South Africa.
Who is the current CEO of adumo?
Paul Kent is the current CEO of adumo. They have also founded this company.
Is adumo a funded 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 05, 2021.
What does adumo do?
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.
Who are the top competitors of adumo?
adumo's top competitors include Flutterwave, Yoco and Network International.
What products or services does adumo offer?
adumo offers Card Machines, Online Payments, adumo Payouts, and Gift & Loyalty.
How many acquisitions has adumo made?
Who are adumo's investors?
adumo has 6 investors. Key investors include Investec, International Finance Corporation, Crossfin, Lesaka, and Apis Partners.
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