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PalmPay

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Next generation mobile wallet that empowers anyone with a smartphone to open a financial account, send money and make payments

Lagos, NigeriaFounded 2018Fintech
Valuation $500M–1B Last recorded · 2022
Revenue $10–50M Latest reported FY
Headcount 2–5k Current team size
Total funding $100–500M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for PalmPay and the history behind them.

About PalmPay

Founded in 2019, PalmPay has rapidly emerged as a leading fintech platform in Africa, offering a comprehensive suite of digital financial services through its mobile application and extensive agent network. The platform enables users to perform various financial transactions, including money transfers, bill payments, and access to credit and insurance services, all designed to be user-friendly and accessible.

PalmPay's growth strategy is rooted in its commitment to financial inclusion, particularly in regions with limited access to traditional banking services. By integrating its services with widely used smartphone brands and establishing a vast network of over one million agents and merchants, PalmPay ensures that even users in remote areas can access its financial services.

The company's innovative approach has not gone unnoticed. PalmPay has been recognized among the world's top fintech companies, highlighting its significant impact on the financial services industry in Africa. Its use of advanced technologies like Artificial Intelligence and Big Data analytics allows for personalized services and robust security measures, enhancing user trust and engagement.

As of 2025, PalmPay continues to expand its footprint across Africa and into new markets, aiming to become a financial superapp that caters to the diverse needs of its growing user base. With a focus on scalability, user-centric design, and strategic partnerships, PalmPay is well-positioned to redefine the digital financial landscape in emerging economies.

Source: Dealroom company data

At a glance

Founded
2018
Headquarters
Lagos, Nigeria
Sector
Fintech
Power Law
Colt$25–100M revenue

Investors

11 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed3 investors entered at this stage

  • TRANSSION
  • MediaTek Ventures
  • NetEase Capital

Series A8 investors entered at this stage

  • China Creation Ventures CCV
  • MediaTek
  • Seas Capital
  • AfricInvest
  • Chuangshi Capital
  • Yunshi Equity Investment Management
  • Chengyu Capital
  • Trust Capital
Team profiled 19 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 4 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
16 countries with
team presence
🇳🇬 Nigeria76.1%
🇧🇩 Bangladesh10.8%
🇹🇿 Tanzania4.1%
🇵🇰 Pakistan3.6%
🇨🇳 China1.6%
Top 5 of 16 shown
Web traffic by country
1.6M monthly visits
across markets
🇳🇬 Nigeria92.3%
🇹🇼 Taiwan3.8%
🇺🇸 United States2.4%
🇬🇭 Ghana1%
🇨🇦 Canada0.7%
Top 5 markets shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about PalmPay on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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