PalmPay (Series B)
Funding Details
- Awarder
- RSS - techcrunch.com
- Date Award
- June 05, 2025
- Vertical
- Fintech
- Funding URL
- View Funding Page
- Funding Amount:
- $100,000,000
Company Info
- Founding Year
- 2019
- Traction
- PalmPay has 35 million registered users and processes 15 million daily transactions, with annual transaction values in the tens of billions of dollars. The company's revenue was $64 million in 2023, more than doubling since its last funding round.
- Revenue Amount
- $64,000,000
- Organizations Involved
- Transsion
- Company Description
- PalmPay is a digital bank fintech that started in Nigeria, focusing on the underbanked population by offering services like credit, savings, insurance, and bill payments through a mobile app. The company has built a vast network of small businesses and agent merchants to facilitate cash-in and cash-out services.
- Market
- Africa and Asia
- Location
- Nigeria
- Coinvestors
- GIC, MediaTek