Mobile money company, Paga, has said that in 10 years of its operations in Nigeria, it has successfully processed over 72 million transactions worth $4.6 billion, with a record of 12 million customers.
Besides, the company stated that it was able to raise $34.7 million since its inception, attracting investors such as Tim Draper, one of the earliest Internet investors; Flourish, a venture of the Omidyar Group; and the Global Innovation Fund, among others.
Speaking in Lagos, at the 10-year celebration of the firm, founder and chief executive officer, Tayo Oviosu, said, Paga was born out of the frustration with needing to carry cash everywhere in Nigeria and the inability to make payments efficiently.
According to Oviosu, “I started Paga with one goal, to solve the “use of cash” problem, cash is still king around the world and that needs to change. Cash is very expensive to clean, manage, and store. In high-risk countries like Nigeria, carrying sums of cash…
