{"id":2603,"date":"2025-11-20T12:27:35","date_gmt":"2025-11-20T12:27:35","guid":{"rendered":"https:\/\/top50brandsnigeria.com\/?page_id=2603"},"modified":"2025-12-26T22:21:21","modified_gmt":"2025-12-26T22:21:21","slug":"palmpay","status":"publish","type":"page","link":"https:\/\/top50brandsnigeria.com\/2025\/10-brands-to-watch-2025\/palmpay\/","title":{"rendered":"PalmPay"},"content":{"rendered":"\t\t
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PalmPay<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Opay Snapshot<\/h2>\n

Financial Inclusion & Digital Scale<\/p>\n <\/div>\n\n

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Launched<\/div>\n
2019 (Mobile Money Operator license, CBN)<\/div>\n <\/div>\n\n
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Headquarters<\/div>\n
Lagos (Ikeja\/Opebi, Nigeria)<\/div>\n <\/div>\n\n
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Founding & Investors<\/div>\n
Seed US $40M (Transsion-led), Series A US $100M; Total funding \u2248US $140M<\/span><\/div>\n <\/div>\n\n
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Scale<\/div>\n
35M users, 1M SMEs, 15M daily transactions (tens of billions USD annually)<\/div>\n <\/div>\n\n
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Profitability<\/div>\n
Profitable by 2025; Series B in talks for US $50\u2013100M<\/div>\n <\/div>\n\n
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Revenue<\/div>\n
US $64M in 2023; more than doubled since<\/div>\n <\/div>\n\n
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Valuation<\/div>\n
Just below unicorn at Series A; expected to hit unicorn with Series B<\/div>\n <\/div>\n\n
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Awards<\/div>\n
FT #2 fastest-growing in Africa (2025); 2024 Brandcom Fintech Inclusion award<\/div>\n <\/div>\n\n
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Key Partnerships<\/div>\n
Transsion (app pre-install), Verve debit card, insurance, savings, loans<\/div>\n <\/div>\n\n
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Vision<\/div>\n
To become Nigeria’s leading financial super-app for mass inclusion<\/div>\n <\/div>\n\n <\/div>\n<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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PalmPay<\/strong>, a mobile-first fintech platform, was launched in Nigeria in 2019 under a Mobile Money Operator license issued by the Central Bank of Nigeria. Backed by prominent Chinese investors, most notably Transsion and NetEase, PalmPay began with an ambitious seed round of US $40 million, one of the largest for an African startup at the time.<\/p>

PalmPay’s mission is to digitize everyday financial transactions for mass-market Nigerians,making cashless transfers, bill payments, airtime purchases, savings, loans, and insurance more accessible, affordable, and convenient than cash.<\/p>

As of mid-2025, it boasts over 35 million registered users<\/strong>, serves approximately one million small-and-medium enterprise clients, and handles 15 million daily transactions, <\/strong>translating to tens of billions of dollars in annual transaction volume. Impressively, 25% of monthly active users discovered their very first financial account with PalmPay, and among credit users, 60% accessed credit for the first time through the platform.<\/p>

PalmPay has raised about US $140 million<\/strong> across its seed and Series A rounds. It became profitable and by mid-2025, was in advanced talks to raise US $50\u2013100 million<\/strong> in a Series B round to accelerate growth in Nigeria, deepen its business-facing offerings, and expand further into African and Asian markets<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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PalmPay Opay Snapshot Financial Inclusion & Digital Scale Launched 2019 (Mobile Money Operator license, CBN) Headquarters Lagos (Ikeja\/Opebi, Nigeria) Founding & Investors Seed US $40M (Transsion-led), Series A US $100M; Total funding \u2248US $140M Scale 35M users, 1M SMEs, 15M daily transactions (tens of billions USD annually) Profitability Profitable by 2025; Series B in talks […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":2586,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-2603","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/pages\/2603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/comments?post=2603"}],"version-history":[{"count":14,"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/pages\/2603\/revisions"}],"predecessor-version":[{"id":3991,"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/pages\/2603\/revisions\/3991"}],"up":[{"embeddable":true,"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/pages\/2586"}],"wp:attachment":[{"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/media?parent=2603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/categories?post=2603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/top50brandsnigeria.com\/2025\/wp-json\/wp\/v2\/tags?post=2603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}