Nigeria’s mobile payment processor Paga hits N3 trillion in transaction value

Paga hit the N3trn mark in 15 months

One of Nigeria’s pioneer mobile payment company has crossed N3 trillion in transaction value since starting commercial operations in 2012.

Founded by Tayo Oviosu and Jay Alabraba in 2012, Paga built a payment infrastructure that facilitates seamless financial transactions with mobile devices.

The Chief Executive Officer, Mr. Oviosu who disclosed this on Monday said it took the company only 15 months to rise to the N3 trillion mark.

“Big Milestone for Paga and digital acceleration. We crossed 3 trillion Naira in transaction values processed since the start of commercial operations in 2012.  Hit N2 Trillion in March 2020. Hit N3 Trillion in May 2021. 15 months to process 1 Trillion! Hit N2 Trillion in March 2020. Hit N3 Trillion in May 2021. 15 months to process 1 Trillion!” Oviosu stated.

Read also, Digital payment startup, Paga plans a Series C round

Recall that in 2018, the company raised $10 million in a Series B funding to support its global expansion, bringing the total sum raised by the digital payment startup to about $40 million since launch in 2009. In 2019, co-founder Jay Alabraba disclosed that it was in the process of raising a Series C. The company has more than one million users.