PalmPay
Latest round
- Series A
Last raised
- Feb 2022
Total raised
- $140M
Investors
- 8
About PalmPay
PalmPay Limited is a fintech company specializing in innovative payment solutions, catering to millions of users through its app that facilitates money transfers, bill payments, and shopping across multiple countries. Founded in 2019, PalmPay Limited operates out of London, UK, providing financial services primarily in Nigeria, Ghana, Tanzania, and the United Kingdom. The CEO of PalmPay is Kyai Mullei, whose leadership has been pivotal in the company's growth within the competitive fintech landscape. PalmPay offers a comprehensive suite of financial services designed to empower individuals and businesses with innovative payment solutions. The company's core product, the PalmPay App, facilitates seamless money transfers, bill payments, and shopping capabilities, catering to the diverse needs of over 35 million users across Nigeria, Ghana, Tanzania, and the United Kingdom. The app enables users to send and receive money, pay bills, and shop online, addressing the growing demand for convenient and accessible financial solutions in these markets. Additional offerings include business-oriented services such as account management, payment processing via Point of Sale (POS) systems, and an extensive agent network, which collectively enhance the financial ecosystem for both consumers and businesses. Through these products, PalmPay aims to streamline financial transactions and improve overall user experience in a rapidly evolving digital landscape. PalmPay generates revenue through a multifaceted transaction structure, engaging in direct-to-consumer and B2B partnerships. The company earns fees from financial transactions facilitated by its app, including money transfers and bill payments. Retailers may partner with PalmPay to integrate its payment solutions, leading to additional revenue from transaction processing. Specific pricing plans for products and services are structured to cater to a range of customer needs, including individual users and businesses. PalmPay's flagship services, such as the personal app features and business account management tools, are integral to its revenue model, ensuring a steady stream of income through consistent user engagement and transactions across its operational regions. Future product launches are anticipated to include additional financial services tailored to the needs of its growing user base.
Who invested in PalmPay
8 investors across 2 rounds
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Questions about PalmPay
Who invested in PalmPay?
PalmPay has 8 investors on record across 2 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has PalmPay raised?
PalmPay has raised 2 venture rounds. Sign up free to see how much each round raised and the total.
When did PalmPay last raise money?
PalmPay's most recent round on record is a Series A, in Feb 2022.
What does PalmPay do?
PalmPay Limited is a fintech company specializing in innovative payment solutions, catering to millions of users through its app that facilitates money transfers, bill payments, and shopping across multiple countries.
Where is PalmPay headquartered?
PalmPay is headquartered in London, UK.
Which VCs invest in companies like PalmPay?
Among active investors with capital left to deploy, Mundi Ventures, Apis Partners, 7RIDGE and Mouro Capital back financial services companies at PalmPay's stage. Their profiles are linked below.
VCs backing financial services startups at Series A
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