# Transsnet Financial: Financial services, Lagos, Nigeria

> Transsnet Financial: Transsnet Financial is a financial services company founded in 2018 through a joint venture between Transsion Holdings and NetEase Group.

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

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

# Transsnet Financial

Transsnet Financial is a financial services company founded in 2018 through a joint venture between Transsion Holdings and NetEase Group.

Funding reported Last round: Series A

Financial services Lagos, Nigeria

Company summary

- **Founded:** 2018 8 years old
- **Team:** 180 51 to 200 people
- **Funding reported:** 140M as listed, currency not stated
- **Last round:** Series A Aug 2021

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 Transsnet Financial 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 Transsnet Financial

Transsnet Financial is a financial services company founded in 2018 through a joint venture between Transsion Holdings and NetEase Group.

Based in Ikeja, Lagos, Nigeria, the company focuses on enhancing financial inclusion across Africa by utilizing the reach of Transsion's smartphone brands and NetEase's digital ecosystem. It aims to serve underserved populations with a range of digital financial services. The company offers various services, including digital payments, savings solutions, lending services, and financial inclusion programs. Its flagship product, the Palmpay app, facilitates secure mobile payments and rewards users for transactions. Palmpay is actively used in Nigeria and Ghana, processing significant monthly payment volumes. Transsnet Financial is committed to reaching 100 million customers and expanding its services across the continent, with plans for operations in countries like Tanzania and the UK.

## What company datasets say Transsnet Financial raised

Funding, as reported

Reported in all **140M** in the source's currency

Last round **Series A**

Last round size **100M**

Last round date **Aug 2021**

## The company, in detail

What they build

Built with from their website

Viewport Meta webpack React Mobile Friendly Amazon Route 53 Alibaba Cloud Mail Next.js Amazon AWS Mailchimp Mandrill AWS Cloud

+1 more

Alibaba Cloud

- **Sector:** Financial services
- **Industry code:** NAICS 522320, SIC 7372
- **Region:** Lagos
- **Revenue:** 174.3M a year, as listed

## 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)
- [**Ultimcred Limited** Lagos · founded 2019](https://millionrounds.com/startup/ultimcred-limited)
- [**Access ARM Pensions** Abuja · founded 2004](https://millionrounds.com/startup/access-arm-pensions)
- [**Paga Group Ltd** Lagos · founded 2009](https://millionrounds.com/startup/paga-group-ltd)

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