Crossfin Transactional Options (CTS) has rebranded to Adumo, in an try and infuse the fast-growing fintech firm with an genuine African really feel that speaks to its present and future buyer base.
Following the 2019 acquisition of Sureswipe by Crossfin Expertise Holdings, a fintech funding firm, and Apis Progress Fund, a non-public fairness fund managed by London-based Apis Companions LLP, Crossfin Transactional Options (CTS), South Africa’s largest unbiased funds and service provider buying options platform was fashioned.
2020 will now see an genuine, native positioning of CTS to ‘Adumo’.
Adumo companies greater than 30 000 lively purchasers and 50 000 lively card machines – processing over $four billion in transaction value – and with a presence in 7 African international locations, making it’s the largest unbiased funds and fastest-growing service provider buying options platform.
Adumo brings collectively three of South Africa’s favorite and most well-known fee service suppliers beneath one entity – Sureswipe, Innervation Pan African Funds, and iKhokha. All three entities ship attractive value propositions for his or her completely different goal markets. Every of those will proceed to concentrate on their distinctive market segments.
“Last year CTS successfully cemented its stake as an African fintech leader, with global backing. With the launch of our new name, Adumo, we are now strengthening our African and Fintech brand positioning. This announcement will usher in an exciting new period whereby financial inclusion and accessibility to alternative payment methods will provide Africans with more innovative, cashless ways to be part of the economy,” says Adumo CEO, Paul Kent.
Adumo gives companies with help for his or her enterprise wants – whether or not or not it’s a casual dealer, massive retailer, or franchise surroundings. Add-on companies are offered from a consortium perspective and vary from monetary companies, lending options, cash advance, next-generation level of sale software program, loyalty options for improved buyer engagement, and different value-added companies that promote cross-sell alternatives between the completely different manufacturers.
“From a safety perspective, going cashless is imperative to the growth of the African economy,” added Kent. “This is especially the case in the informal sector where traders want to provide their customers with a secure, user-friendly, and quick way to transact. Combining the strengths of these leading payment platforms has resulted in the creation of a global fintech giant that can address any transactional merchant and retail need irrespective of country, market size, and customer requirement. We look forward to a new era of growth and support for all independent retailers across the continent.”
