# Paga Group Ltd: Financial services, Lagos, Nigeria

> Paga Group Ltd: Paga Group Ltd is a prominent Nigerian fintech company that specializes in mobile payments and digital financial services across Africa.

Source: https://millionrounds.com/startup/paga-group-ltd (Millionrounds; every figure on the page links to its filing or article)

Nigeria · [Financial services startup](https://millionrounds.com/companies)

# Paga Group Ltd

Paga Group Ltd is a prominent Nigerian fintech company that specializes in mobile payments and digital financial services across Africa.

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Funding reported Last round: Series B

Financial services Lagos, Nigeria

Company summary

- **Founded:** 2009 17 years old
- **Team:** 500 201 to 1,000 people
- **Funding reported:** 43.4M as listed, currency not stated
- **Last round:** Series B Mar 2024

How sure we are

- ✓ **Listed** We know it exists and what it does
- 2 **Funding reported** A company dataset reports a raise
- 3 **Observed** A filing or a dated announcement confirms a round

No round for Paga Group Ltd has been confirmed by a filing or an announcement yet, so nothing here counts toward an investor's record. [How we decide](https://millionrounds.com/methodology)

## About Paga Group Ltd

Paga Group Ltd is a prominent Nigerian fintech company that specializes in mobile payments and digital financial services across Africa.

Founded in 2009 by Tayo Oviosu and Jay Alabraba, Paga aims to transform how people access and manage money in a cash-dominant economy. The company is headquartered in London, UK, and operates a diverse portfolio centered around three main business verticals: consumer banking and payments, platform-as-a-service, and retail solutions through the Doroki Super App. Paga serves over 29 million customers and has facilitated more than 460 million transactions, amounting to over ₦23 trillion (approximately $44 billion). Its offerings include a mobile app for money transfers, bill payments, and savings, as well as a merchant platform for businesses. Paga also provides APIs for third-party developers, enabling them to integrate financial services into their applications. With a vast distribution network of over 13,000 agent outlets in Nigeria, Paga is committed to enhancing financial access and supporting economic growth in the region.

## What company datasets say Paga Group Ltd raised

Funding, as reported

Reported in all **43.4M** in the source's currency

Last round **Series B**

Last round size **10M**

Last round date **Mar 2024**

## On 3 portfolio pages

Investors who name them

- [Ossian Capital](https://millionrounds.com/fund/ossian-capital)
- [Stonewater Ventures](https://millionrounds.com/fund/stonewater-ventures)
- [Red Sails Investments](https://millionrounds.com/fund/red-sails-investments)

Each firm lists Paga Group Ltd on its own website. That is the firm's claim, a weaker thing than a round we watched, but a named source.

## The company, in detail

What they build

Known for

digital payment infrastructure africa african sme financial tools us-africa remittance platform mobile payments secure digital wallet user experience mobile money platform remittance and payment platform africa digital payments consumers retail management agent banking network africa digital banking solutions request money us-based african banking reserve

Built with from their website

Google Tag Manager parallax.js Atlassian Google Ads Clarity SDM Font Awesome Google Workspace CloudFlare Viewport Meta Google Play

+8 more

PostgreSQL Facebook SDK Google Meet Underscore.js OWL Carousel Priority Hints React Google Font API

- **Sector:** Financial services
- **Industry code:** NAICS 522320, 513210, SIC 7372
- **Region:** Lagos

## Financial services in Nigeria

Startups like it

- [**PalmPay** Lagos · founded 2019 *Raised*](https://millionrounds.com/company/palmpay)
- [**Daya** Lagos · founded 2025 *Raised*](https://millionrounds.com/company/daya)
- [**Creditchek** Lagos · founded 2021 *Raised*](https://millionrounds.com/company/creditchek)
- [**OPay** Lagos · founded 2018](https://millionrounds.com/startup/opay-3)
- [**One Finance & Investment** Lagos · founded 2012](https://millionrounds.com/startup/one-finance-investment)
- [**Transsnet Financial** Lagos · founded 2018](https://millionrounds.com/startup/transsnet-financial)
- [**Ultimcred Limited** Lagos · founded 2019](https://millionrounds.com/startup/ultimcred-limited)
- [**Access ARM Pensions** Abuja · founded 2004](https://millionrounds.com/startup/access-arm-pensions)

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