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A African Digital Bank Fintech is a number of $ 100 million between $ 50 million and $ 100 million between $ 50 million and $ 100 million.
What assessment is what the ability is, but last round, ranked in 2021 Among the most precious beginnings of the continentIt is estimated only from the unicorn status.
Palmpay said a spokesman said that a spokesman for the six-year-old Fintex’s “strong financial situation and growth opportunities”.
Its company with about $ 140 million seed and Series a Tours are now profitable for people who are familiar with their finance.
Both capital and debt will be included in the expansion of the new capital, Palmpay and deepen the traces in Nigeria, spread both products in new markets between Africa and Asia.
Last month, Palmpay said he had a 15 million daily operation managed by 35 million registered users. According to the company, these operations now add to “ten billion dollars” every year.
The income has also increased. Palmpay’s income – 64 million dollars in 2023, according to the financial period – the people who have been familiar with the company’s financial analysis.
Palmpay, who began in 2019, began in Nigeria, in the largest population of Africa and in a large city of Fintech Hub. At that time, more than half of the country’s adults, traditional banks mainly adapted to the salaried or official sector customers, except for mass market users.
Palmpay, it sees an opportunity to turn this model into: Set a digital bank from scratch, but optimize Africa’s unofficial economy realities. The company has launched an application that provides an application, (credit, deposit, insurance and payment), in accordance with the needs of zero consumers and small businesses, zero transfer fees, zero transfer fees (credit, savings, insurance and maturity).
The Palmpay did not trust only digital shopping. Fintech, now for Palmpay Business Application and Points (for cash, cash), a wide network of more than 1 million small enterprises and agents serving more than 10 million customers per month.
Other large fintechs in the country, including Opay, Moniepointand Paidalso accepted the hybrid model, Digital applications combine with physical touchpoints.
Palmpay says more operations than any traditional bank in Nigeria and 25% of users are the first financial account. For licensed loans, for loan products offered in the partnership, this number jumps to 60% among borrowers.
Part of Palmpay’s strong distribution and marketing advantage is a Chinese phone manufacturer, which is a sales of a smartphone in Africa, the china phone, which is more than 40% of the brands (TECNO and Infinix).
Palmpay through the partnership, using the user acquired and engagement drive, Palmpoid pre-financed smartphones.
By setting himself as one of the most commonly used fintech applications in the country, Palmpay is now preparing to repeat the model in new markets abroad.
The NeoBanking Platform has expanded to Tanzania and Bangladeshi as chickens as wedges before folding Palmpay in more service. (Other African digital banks, including Fairmoney, Hail and TimeBankExpanded financial services with success rates.)
The company also plans to provide device financing in Nigeria, and his spokesman confirmed.
Palmpay’s transfer to the manager Seed round, The company’s spokesman Fintech, the company’s spokesman Fintech actively investigates cooperation with more original equipment manufacturers (OEM).
Medatek, one of the GIC (Singapore Sovereign Wealth Fund) and one of the largest mobile chipset manufacturers in the world, is one of some other investors.
On the business side, Palmpay offers border payments for merchants who want to send and collect payments in Africa through an API in Africa. The new launching work feature has already confirmed the “$ 2 million millions of dollars”, the company’s spokesman.
