Lesaka Technologies, a South African fintech startup, recently signed an agreement to acquire payment solutions provider Adumo for approximately $86 million. As part of the transaction, Lesaka Technologies will issue 17,279,803 common shares to Adumo's major shareholders.
A report indicates that some of Adumo's major shareholders will accept shares in Lesaka Technologies, including Apis Growth Fund I, a private equity fund managed by British venture capital firm Apis Partners, and African Rainbow Capital (ARC) of South African billionaire Patrice Motsepe.
As part of the agreement, the fintech startup will pay Adumo $12.50 million in cash from internal and external financiers.
South African fintech startup Leseka Tech acquires payments provider Adumo for $86 million
2024-05-12 01:54:42
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