Paga Processes Over 270,000 Transactions Worth More Than N2.6 Billion

Mergers, Acquisitions and Financial Results

Nigeria’s mobile payment startup, Paga has processed over 276,000 transactions that are worth more than N2.6 billion (about $9.8 million) transaction volumes to date.

The company recently announced a recent series of investments from high calibre investors including Adlevo Capital, Omidyar Network, Acumen Fund, Capricorn Investment Group, and its current investors, Goodwell West Africa Microfinance Development Company.

Last September when Paga officially launched its commercial and marketing operations, it did over 18,000 transactions and processed over N100 million transaction volumes in a few weeks.

It also announced that its growing agent network now comprises of more than 850 agents currently located in 19 cities. The company is now building a grassroots distribution network which would see it achieving 30,000 agents by 2015.