# PalmPay funding: rounds and investors

> PalmPay has raised $140M across 2 rounds since 2019. Investors include MediaTek and TRANSSION. Every round with its source.

Source: https://millionrounds.com/company/palmpay (Millionrounds; every figure on the page links to its filing or article)

Nigeria · [Series B startup](https://millionrounds.com/companies)

# Who invested in *PalmPay*

2 rounds we have observed, with the 2 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Fintech

Funding summary Updated 26 Oct 2026

**$140M** raised across 2 rounds since 2019, from 3 sources

**$40M** Seed **$100M** Series B

- **Latest round:** Series B, $100M Jun 2025
- **Led by:** MediaTek
- **Step-up i:** 2.5×
- **Investors:** 2 (2 led)

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2020 2021 2022 2023 2024 2025

**$40M** Seed

**$100M** Series B

- **First round:** Seed, $40M
- **Biggest round:** $100M
- **Between rounds:** 5.6 years

## The rounds

- **Jun 2025** Series B **$100M** *1 new* [MediaTek](https://millionrounds.com/fund/mediatek) Lead Reported by TechCabal and 1 other
- **Nov 2019** Seed **$40M** *1 new* [TRANSSION](https://millionrounds.com/fund/transsion) Lead Reported by TechCrunch

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Seed** 2019 **Series B** 2025 [MediaTek](https://millionrounds.com/fund/mediatek) L [TRANSSION](https://millionrounds.com/fund/transsion) L

## Everyone who backed them

[MediaTek](https://millionrounds.com/fund/mediatek) Corporate VC **1** round, led 1

[TRANSSION](https://millionrounds.com/fund/transsion) VC firm **1** round, led 1

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=palmpay).

## Quick answers about PalmPay

### Who invested in PalmPay?

PalmPay's investors include MediaTek and TRANSSION. MediaTek led its latest round.

### How much has PalmPay raised?

PalmPay has raised $140M across 2 rounds since 2019.

### When did PalmPay last raise?

PalmPay's most recent round was a Series B of $100M in Jun 2025, led by MediaTek.

### What was PalmPay's biggest round?

Its most recent round, $100M in Jun 2025, is also its largest on record.

### Who backed PalmPay first?

PalmPay's first round on record, in Nov 2019, was backed by TRANSSION.

### What stage is PalmPay at?

PalmPay's latest named round is a Series B, in Jun 2025.

### Where is PalmPay based?

PalmPay is based in Nigeria.

### Who led PalmPay's rounds?

TRANSSION led the Seed in 2019; MediaTek led the Series B in 2025.

## Companies like PalmPay

In the same sector, and raised in the last eighteen months.

[**Nomba** $33M · Sept 2026](https://millionrounds.com/company/nomba)[**Yellow Card** $73M · Aug 2026](https://millionrounds.com/company/yellow-card)[**Moove** $350M · Aug 2026](https://millionrounds.com/company/moove)[**Daya** $2.4M · Jun 2026](https://millionrounds.com/company/daya)[**CreditChek** $600K · Jun 2026](https://millionrounds.com/company/creditchek)[**BFREE** $3.0M · May 2026](https://millionrounds.com/company/bfree)

## Find investors like these

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