Home / Tech News / Africa Roundup: Paga goes global and 4 startups raise $99M in VC

Africa Roundup: Paga goes global and 4 startups raise $99M in VC


Nigerian digital payments startup Paga is gearing up for international expansion with a $10 million round led by the Global Innovation Fund.

The company is exploring the release of its payments product in Ethiopia, Mexico, and the Philippines—CEO Tayo Oviosu told TechCrunch.

Paga looks to go head to head with regional and global payment players, such as PayPal,  Alipay, and Safaricom according to Oviosu.

“We are not only in a position to compete with them, we’re going beyond them,” he  said of Kenya’s  href=”https://crunchbase.com/organization/m-pesa” data-saferedirecturl=”https://www.google.com/url?q=https://crunchbase.com/organization/m-pesa&source=gmail&ust=1538690131434000&usg=AFQjCNFh9TKfy2mvIHjw_XVc1R63-ggIJg”>M-Pesa  mobile money product. “Our goal is to build a global payment ecosystem across many emerging markets.”

Launched in 2012, Paga has created a multi-channel network and platform to transfer money, pay-bills, and buy things digitally 9 million customers in Nigeria—including 6000 businesses.

Since inception, the startup has processed 57 million transactions worth $3.6 billion, according to Oviosu. He joined Cellulant CEO Ken Njoroge and Helios Investment Partners’ Fope Adelowo at Disrupt San Francisco to discuss fintech and Africa’s tech ecosystem.

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