What we do: MyGate is a payments platform based in South Africa and assists merchants on selling products and services online. MyGate’s extensive payment solution provides alternative payment methods and value added services such as card payment vault and tokenisation technology which offers value and security to these merchants. MyGate is one of Africa’s largest and fastest growing online payment gateways helping thousands of merchants accept payments online and process billions of Rand worth of transactions annually. The company was founded in 2007.
Ownership & Management: MyGate was founded by Vijay Arisetty, Abhishek Kumar and Shreyans Daga. In 2017, the company was since 100% acquired by Wirecard AG, a German software specialist company. The parties agreed upon a purchase price of EUR23.1 million, consisting of an upfront payment of EUR18.2 million and earn out payments of up to EUR4.9 million.
Key financial indicators: MyGate is expected to generate EBITDA of R30 million for the 2017 financial year. MyGate acquired the Setcom credit card payment gateway customers in order to further expand its reach in South Africa. MyGate is growing rapidly with strong partners who are typically online merchants that need to facilitate secure payments by their customers online. MyGate is a member of the Wirecard Group, one of the world’s leading international financial services and technology companies.
Track record: MyGate is used by Multichoice, Afrihost, HomeChoice, The Pro Shop, Soviet, Experian, Media24, Spar, Audio Mart, Cycle Lab, Earth Child, Thrifty and Avon among many others. The client list speaks to the strong track record in the payments platform.
Contact details: Tel: (+27) 21 555 3260 Email: firstname.lastname@example.org Address: Unit 12, The Pavilion, 14 Central Park, The Esplanade, Century City, Cape Town, South Africa Website: https://mygate.co.za
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