Adumo, formerly Crossfin Transactional Solutions, is a fintech startup offering a range of smart payment solutions to large multinational and independent retailers as well as entrepreneurs and informal traders.

Adumo provides the expertise to make smart payment acceptance decisions that work for you.

Adumo was founded in 2019 by Paul Kent. The company is headquartered in Bryanston, Gauteng, South Africa. Adumo's group companies include Sureswipe, iKhokha, Humble, Innervation Pan African Payment Solutions and Innervation Rewards.

 

Adumo's eco-system offers you working capital requirements, consumer engagement platforms, business support solutions, an in-store consumer credit platform, retail point of sales software and hardware, customer analytics, electronic voucher distribution and private label card issuing, all from a single provider.

 

Adumo customers include multinational as well as independent retailers, entrepreneurs, and informal traders. Present in 14 African countries, the fintech claims to be South Africa’s largest independent payments processor.

 

Adumo claims to process more than $6 billion in transactions annually. The company acquired more than 40,000 active clients and currently owns some 50,000 active card machines.

 

Adumo is backed by International Finance Corporation, Apis Partners, Investec, Crossfin Holdings, the IFC's Growth Fund, and others. The company raised ZAR190M ($11M) in a new round on Nov 18, 2022. This brings Adumo's total funding to ZAR415M ($26M) to date.

 

 

  • Year founded: 2019
  • Funding Info: ZAR415M ($26M) over 3 Round (Latest Funding Type: Venture- Series Unknown)
  • Yearly Revenue: NA
  • Employee Size: 201-500
  • Business Valuation: NA
  • City/Town: Johannesburg
  • State: Gauteng
  • Country: South Africa
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