Transaction

Araxi acquires an 80% interest in Pay@ Group for ZAR 1 billion

Announced

18 February 2026

Target

Pay At Holdings (Proprietary) Limited, International Payment Holdings Limited

Value

$62.5m

Asset class

Corporate Transactions, Private Equity, Private Credit

Type

Merger/Acquisition(M&A), Debt Financing, Exit

Instrument

Ordinary Shares (Equity), Senior Debt

Lead investors

African Resonance

Investors

African Resonance

Sector

Financial services / B2B Payments, Payments Infrastructure

Markets

South Africa

About the target

Pay At Holdings (Proprietary) Limited (Pay@) is a South African payment solutions provider headquartered in Stellenbosch, South Africa. Founded in 2007, Pay@ connects billers to a collection network that, according to a February 2026 JSE announcement, includes more than 9,000 retailer locations, 150,000 mobile point-of-sale end points, banks, mobile network operators, and digital platforms. Pay@ offers an enterprise solution through application programming interface (API) integration, a self-service solution with QR codes and invoicing, and Yap, a white-label payment request product. Payment collection reaches South Africa, Namibia, Botswana, Zimbabwe, Eswatini, and Lesotho, and an affiliate in Mauritius provides a gateway for wider expansion. Pay@ states that it processed 112.1 million transactions worth about R60 billion in FY25.