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
Locked
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Phone
Locked
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Website
Locked
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Social
Locked
- Legal Name Adumo (Rf) Pty Ltd
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$25.94 M (USD)
in 3 rounds
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Latest Funding Round
$10.94 M (USD), Series B
Nov 18, 2022
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Investors
Investec
& 5 more
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Employee Count
Not available
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Investments & Acquisitions
SwitchPay
& 1 more
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Acquired by
Lesaka
(May 07, 2024)
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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.
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.
People of adumo
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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.
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 |
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Private equity and venture capital asset management firm
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Locked | Locked | Locked | |
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Investor in and builder of FinTech businesses in emerging markets
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Locked | Locked | Locked | |
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IFC is focused on private sector development in emerging markets.
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Locked | Locked | Locked |
Investor details for adumo
Investor domains, locations, round participation, and complete history require an active premium plan.
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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.
Investment portfolio details for adumo
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- Portfolio identities
- Transaction dates
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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Alternative payment solutions for merchants
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Locked | Locked | 2018 | Locked | |
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Payment processing solutions are provided for businesses and merchants.
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Locked | Locked | 1999 | Locked |
Complete acquisition details for adumo
Transaction dates, acquired stakes, disclosed values, domains, and locations require an active premium plan.
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Verified entity values are shown only after access is granted.
Financial Statements - adumo
Detailed financials for adumo
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
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- Profit trends
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Adumo Comparisons
Peer comparison for adumo
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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.
| Company Name | Domain | Founded year | HQ Location | Description |
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| Locked | Locked | Locked |
Provider of payment processing solutions for businesses
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| Locked | Locked | Locked |
Payment processing solutions are offered to businesses and merchants.
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| Locked | Locked | Locked |
Network International is recognized as a leading digital payment provider in the Middle East and Africa.
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| Locked | Locked | Locked |
Payment processing solutions are provided for businesses and merchants.
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| Locked | Locked | Locked |
Global payment processing is facilitated for businesses through diverse methods.
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| Locked | Locked | Locked |
Digital payments are processed and managed via specialized solutions.
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Detailed competitors of adumo
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- Domains and locations
- Full company profiles
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Verified entity values are shown only after access is granted.
Latest news on Adumo
Complete news archive for 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 current CEO of adumo. They have also founded this company.
adumo is a funded company, having raised a total of $25.94M across 3 funding rounds to date.
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's top competitors include Flutterwave, Yoco and Network International.
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.