Afrobility: Africa Tech and Business

#62: DPO Group - How the FinTech payments platform went from bootstrapping for 8+ years to strategically acquiring multiple companies, and exiting to Network International for $288M

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Overview: Today, we’re going to talk about DPO Group. We’ll explore the story across the following areas

  1. African payments context
  2. DPO group’s early history
  3. Product & monetization strategy
  4. Competitive positioning & potential exit options
  5. overall outlook.

    6. This episode was recorded on Mar 5, 2023


    Companies discussed: DPO Group, Network International, Apis partners, Flutterwave, Paystack, Interswitch, Safaricom, MTN, Airtel, Takealot.com, Superbalist.com, Safaricom, Yoco, PayPal & Chipper Cash


    Business concepts discussed: Bootstrapping, Payments ecosystem, payments partnerships strategy, payments infrastructure, low-end disruption, banking regulation, Mobile Money, E-commerce payments, Virtual cards & payments M&A strategy


    Conversation highlights:

    • (04:40) - Africa Payment Context at time of DPO’s founding
    • (12:46) - DPO Group Founding and early history
    • (14:05) - Founder Background
    • (25:57) - Fundraising and Growth
    • (29:48) - Acquisitions and Partnerships
    • (51:30) - Product and Monetization Strategy
    • (1:00:05) - Competition
    • (1:08:35) - DPO’s exit to Network International
    • (1:27:15) - Bankole’s overall thoughts and outlook
    • (1:39:10) - Olumide’s overall thoughts and outlook
    • (1:47:01) - Recommendations and small wins


      • Olumide’s recommendations & small wins:

      • Recommendation: The War of Art: Book for creators and artists to get over the hump and release their inner creative expression to the world
      • Recommendation: Naval Ravikant podcast with David Deutsch talking about Physics. Amazing episode. Having two of them together is incredible. Like having a rap collabo.
      • Recommendation: Fela in Versace. Shit is too nice. I love songs that combine unrelated ideas
      • Small win: Soul Cycle  for the First time. Dope shit.


        • Bankole’s recommendations & small wins:

        • Recommendation: Stratechery Podcast - Eric Seufert and Ben Thompson & Mike Munger on EconTalk on Decision-making
        • Small win: I signed up for a gym membership for the first time ever


          • Listeners: We’d love to hear from you. Email [email protected] with feedback!

          Founders & Operators: We'd love to hear about what you're working on, email us at [email protected]

          Investors: It would be great to link up with you. Contact us at [email protected]

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          Afrobility: Africa Tech and BusinessBy Olumide Ogunsanwo and Bankole Makanju
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