Paga, one of many continent’s main fintech corporations, has revealed that the worth of transactions processed on its platform has grown seventeenfold over the previous 4 years.
Tayo Oviosu, founder and CEO of Paga, mentioned on his LinkedIn publish that the corporate processed 35 million transactions price N1.2 trillion in 2021, a milestone that on the time ‘felt daring’ for the then-nascent funds supplier. In Could 2022, Paga had matched that worth, processing N1.2 trillion price of funds throughout 25 million transactions.
Oviosu mentioned that since then, the corporate’s scale has expanded. From these thousands and thousands of transactions 4 years in the past, Paga now handles volumes measured within the trillions of naira, reflecting its evolution from a consumer-focused funds app right into a broader funds infrastructure supplier throughout the area.
The expansion has been pushed partially by Paga Engine, the corporate’s backend platform that permits funds orchestration, invoice aggregation, and Banking-as-a-Service (BaaS) options for a variety of companion companies.
Oviosu described this infrastructure as a ‘vital financial spine’ that helps a few of Africa’s fastest-scaling digital companies. He reiterated that Paga remains to be within the early chapters of its growth story.
