About Paga
Paga is a company based in Lagos (Nigeria) founded in 2009 by Tayo Oviosu and Jay Alabraba.. Paga has raised $23 million across 5 funding rounds from investors including Acumen, Omidyar Network and Global Innovation Fund. Paga has completed 1 acquisition, including Apposit. Paga offers products and services including Send Money, Request Money, Pay Bills, Get Remittance, and Top-up Airtime & Data. Paga operates in a competitive market with competitors including DiGiSPICE, Eyowo, 9PSB, AjoCard and Vouchernet, among others.
- Headquarter Lagos, Nigeria
- Founders Tayo Oviosu, Jay Alabraba
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
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Social
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- Legal Name Pagatech
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Products & Services of Paga
Paga offers a comprehensive portfolio of products and services, including Send Money, Request Money, Pay Bills, Get Remittance, and Top-up Airtime & Data. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Service for instant money sending to phones or accounts.
Feature to request funds from contacts instantly.
Platform for renewing TV, internet, and utility bills.
Tool for receiving international money transfers securely.
Instant service for mobile airtime and data top-ups.
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Funding Insights of Paga
Paga has successfully raised a total of $23M across 5 strategic funding rounds. The most recent funding activity was a Series B round of $10 million completed in September 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Series B — $10.0M
- First Round First Round
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2018 | Amount | Series B - Paga | Valuation | Global Innovation Fund | |
| Oct, 2015 | Amount | Series B - Paga | Valuation | Adlevo Capital | |
| Jul, 2012 | Amount | Series A - Paga | Valuation | Adlevo Capital , Omidyar Network |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Investors in Paga
Paga has secured backing from 10 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Acumen, Omidyar Network and Global Innovation Fund. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Social innovations are funded via grants, loans, and equity investments.
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Founded Year | Domain | Location | |
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Tech and Offline focused VC firm investing in early-stage companies in Netherlands,India and Nigeria
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Micro venture capital firm investing in emerging market sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Paga
Paga has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Apposit. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Software development services are provided by Apposit in Ethiopia.
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2007 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Paga
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Paga Comparisons
Competitors of Paga
Paga operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as DiGiSPICE, Eyowo, 9PSB, AjoCard and Vouchernet, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
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mPOS hardware and software solution provider
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Mobile platform for selling airtime, bill payments, and money transfer services.
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Paga
Frequently Asked Questions about Paga
When was Paga founded?
Paga was founded in 2009 and raised its 1st funding round 3 years after it was founded.
Where is Paga located?
Paga is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Who is the current CEO of Paga?
Tayo Oviosu is the current CEO of Paga. They have also founded this company.
Is Paga a funded company?
Paga is a funded company, having raised a total of $23M across 5 funding rounds to date.
What does Paga do?
Paga was established in 2009 in Lagos, Nigeria, within the financial technology sector. Agent networks are utilized to facilitate payments for consumers and businesses. Services include money transfers, bill payments, online and offline purchases, mobile recharges, travel bookings, cash deposits and withdrawals, along with business capital assistance. Operations focus on accessible financial transactions across Nigeria.
Who are the top competitors of Paga?
Paga's top competitors include AjoCard, DiGiSPICE and CIT VERiCASH.
What products or services does Paga offer?
Paga offers Send Money, Request Money, Pay Bills, Get Remittance, and Top-up Airtime & Data.
How many acquisitions has Paga made?
Paga has made 1 acquisition, including Apposit.
Who are Paga's investors?
Paga has 10 investors. Key investors include Acumen, Omidyar Network, Global Innovation Fund, Goodwell Investments, and Unreasonable Capital.
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