Paga
Making it simple for 1 billion people to access and use money
What it does
Paga was founded in 2009 by Tayo Oviosu and Jay Alabraba to eliminate cash reliance by creating a digital payments network. The company offers digital wallet accounts, bill payment APIs, money transfers, and operates a massive physical agent network serving tens of millions of customers. Paga is recognized as a pioneer in African financial inclusion and mobile money ecosystems.
Mobile moneyDigital wallets / e-walletsAgency bankingP2P transfersBill payments & aggregatorsPayment processors / acquirers
Known for
- Pioneering African mobile money platform
- Massive multi-agent banking network
- Consumer payment super-app
- Enterprise payment gateway APIs
Model & industry
Marketplace / Aggregator modelAll / Cross-industry
Funding history
$32.0M
Total raised
3
Rounds
Series B
Latest stage
2018
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2018-09 | Series B | $10.0M | Global Innovation Fund |
| 2015-10 | Series B | $13.0M | Adlevo Capital |
| 2012-06 | Series A | $9.0M | Adlevo Capital |
Source: Condia Funding Tracker
Products & subsidiaries
Paga Wallet App & USSD · Mobile Money WalletPaga Agent Network · Agency BankingPaga Platform APIs · Payments APIPaga Business · productPaga Engine · product
Acquisitions
- Appsynergies (2018). Acquired software development asset base.