About PalmPay
PalmPay is a Financial Services company based in Lagos (Nigeria) founded in 2019. PalmPay has raised $140 million across 2 funding rounds from investors including NetEase Games, MediaTek and Chuangshi Capital. Its chief executive, as recorded, is Chika Nwosu. Its website palmpay.com draws about 1.6 million monthly visits. Its focus areas include FinTech, Payments, Business Payments and Diversified.
Company details
App-based and reward-based payments platform for individuals. The platform lets users send cash between friends and paying for airtime, bills and more lets users earn rewards for that. Users can earn PalmPoints and coupons as they spend and use them to discount their transactions. The app is available on both Android and iOS platforms.
- Headquarters Lagos, Nigeria
- SectorsFinancial Services
- Website category Gambling · Sports Betting
- Email••••••••
- Phone•••• ••••
- Website palmpay.com
- Social X Facebook
- Total Equity Funding$140M (USD)
in 2 rounds
- Latest Funding Round$100M (USD), Series A
Aug 2021
- InvestorsNetEase Games
& 5 more
Apps and channels of PalmPay
PalmPay publishes 1 mobile app with over 10M+ downloads.
Funding Insights of PalmPay
PalmPay has successfully raised a total of $140M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $100 million completed in August 2021. 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 $140M
- Total Rounds 2
- Last Round Series A — $100M
- First Round $40M
(Nov 2019)
- Investors Count 6
All 2 funding rounds of PalmPay with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2021 | $100M | Series A | – | Chuangshi Capital | |
| Nov 2019 | $40M | Seed | – | – |
6 investors in total: 6 institutional.
Investors in PalmPay
PalmPay has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include NetEase Games, MediaTek and Chuangshi Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
| cretrendcapital.com | ||||
| seascap.com | ||||
Operates as an asset management firm specializing in equity investments. | 2011 | yunzb.cn | Chengdu, China | |
Provider of AI-based neural processing unit chipsets | 1997 | mediatek.com | Hsinchu, Taiwan | |
| africainvest.global | ||||
Mid-core video games are developed and published by NetEase Games. | 1997 | neteasegames.com | Guangzhou, China |
Investor details for PalmPay
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of PalmPay
97 people are tracked at PalmPay (8 in leadership, 89 in team).
| Name | Role | Group |
|---|---|---|
Chika Nwosu | CEO & MD | Leadership |
Sofia Zab | CMO | Leadership |
Toluwalase Omotehinse LLM, CIPP/E, ACIS, ACTI, CAMS (in view) | Head Of Legal | Leadership |
Adewale Yakub | Head, Merchant Business | Leadership |
Feiyin Yang | Offline Business Operation Director | Leadership |
Jiapei Yan | Group Director, Head Of GTM (go-to-market) & Global Partnerships | Leadership |
Adeyemi Tosin Oluwaseun | Director Of Operations | Leadership |
Opeyemi Castro | Head, Channel Operations And Support | Leadership |
Chibueze Uwalaka | Business Operations Manager | Team |
OJO FISAYO | SENIOR RETRIVER OPERATION | Team |
Rotr Daniella Chinenye Nwabufoh | Business Development Manager | Team |
SHEDRACH OKAFOR | POS Quality Assurance & Operations Personnel | Team |
Joshua Babundo | Customer Service Representative | Team |
Jokotola Abiodun | Customer Service Team Lead | Team |
Precious Ubom | Aggregator operations | Team |
emenike chinonso victor | Operations Manager | Team |
Abisola Bello | Business Development Manager | Team |
Chibuzor Melah. CPM, MNIM, (CSM®), ®(CSPO) | Senior Business Development Manager | Team |
Gibson C Nwafor | Business & Sales Operations Management/business Development And Operations/ Agency Banking | Team |
Damilola Aminu Taiwo | sales | Team |
77 more people are available in the full profile.
Complete people profiles for PalmPay
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of PalmPay
3 dated milestones of PalmPay across 2 years, from founding to its latest funding, stage changes and deals.
- Founded PalmPay is founded.
- Funding First funding round of $40.0M.
- Funding Latest funding round, Series A, of $100.0M.
Web traffic of PalmPay
The website of PalmPay (palmpay.com) receives about 1.6M visits a month and ranks #21,926 among all websites worldwide, #585 in Sports Betting.
- Monthly visits1.6M
▼ 29.2% vs previous month
- Unique visitors874.6K
per month
- Global rank#21,926
among all websites
- Category rank#585
Gambling · Sports Betting
- Bounce rate49%
- Pages per visit4.8
- Average visit4 min 17 sec
- DevicesDesktop 5% · Mobile 95%
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Related news about Palmpay
Complete news archive for PalmPay
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- Older coverage
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Verified entity values are shown only after access is granted.
Frequently Asked Questions about PalmPay
PalmPay was founded in 2019.
PalmPay is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Chika Nwosu is the CEO of PalmPay, as recorded in our data.
PalmPay is a funded company, having raised a total of $140M across 2 funding rounds to date. The company's 1st funding round was a Seed of $40M, raised on Nov 2019.
App-based and reward-based payments platform for individuals. The platform lets users send cash between friends and paying for airtime, bills and more lets users earn rewards for that. Users can earn PalmPoints and coupons as they spend and use them to discount their transactions. The app is available on both Android and iOS platforms.
PalmPay has 6 investors. Key investors include NetEase Games, MediaTek, Chuangshi Capital, Yunshi Equity Investment Management, and Seas Capital.
Yes. PalmPay publishes PalmPay - 0 Transfer Fee, with over 10 million downloads.
The website of PalmPay receives about 1.6 million visits a month and ranks #21,926 among all websites worldwide.