Paga

paymentsmobile/digital wallet

FOUNDING YEAR: 2009
LOCATION: Nigeria
Last Update: 01/05/2020

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About

Paga is a mobile payments company. We are building an ecosystem to enable people to digitally send & recieve money, & creating simple financial services.Pagatech was founded in 2009 and is licensed by the Central Bank of Nigeria.

MEDICI Analysis

Paga Wallet is a Nigerian eWallet that allows merchants to collect payment from shoppers who do not have bank accounts.

Focus

PRODUCTS & SERVICES

Online and offline payments

REVENUE MODEL

Transaction Based Revenue Model

MAIN CLIENTS

Retail Consumers

Traction

VALUATION / MARKET CAP:

$66.67 M in 2015

ACTIVE USERS:

2.3000

People

FOUNDERS

Tayo Oviosu

Jay Alabraba

BOARD MEMBERS AND ADVISORS

Ngozi Edozien

Rotimi Olaniyan

Tani Fafunwa

Tayo Oviosu

Tokunboh Ishmael

Yemi Lalude

Jim O'Neill

NUMBER OF EMPLOYEES

201-500

INVESTORS:

Acumen

Adlevo Capital

Capricorn

Draper Associates

Global Innovation Fund

Goodwell

OMIDYAR NETWORK

Unreasonable Capital

Momentum

FUNDED

YES

TOTAL FUNDING

$32.7 M

DATE OF LAST FUNDING

Sep 2018

TOTAL FUNDING COMMENT

The company will use the funds for international expansion specifically into Ethiopia, Mexico, and the Philippines. (Sep. 2018)

SEED & PRIOR FUNDING

$700 K

SEED CLOSED ON

Sep 2010

FUNDING SERIES

SERIES A  · $9 M  · Jun 2012

SERIES B  · $23 M  · Sep 2018

LISTED

NO

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