PalmPay reportedly closed 2021 inventory with a hundred million dollars Series A deal to accelerate past startup-hood. The UK-based startup fintech company completed the Series A round in the previous August.7
PalmPay sells different types of digi4tised financial services but prioritizes processing electronic payments as its flagship product. The startup payment platform serves African socio-economic development per innovative cross-border instant money transfer and other cashback rewards. PalmPay fintech services is exclusive for regular owners of smartphones, regardless of a Sci-Fi intelligence.
Several venture capitalists had PalmPay listed as their AUM per the sequel rounds of seeds they invested. PalmPay gained the limelight after it launched a payment service in Nigeria. The Nigerian fintech market influenced PalmPay’s business surge since its 2019 debut in Africa’s commercial zone.
At the time PalmPay rounded up $40m seed within a five-month timeline. Several Chinese venture capitalists invested seeds in PalmPay Nigeria. The Series A round is viral as a piece of discrete news. Still, PalmPay disclosed that Series A raised $100m and rounded up in August 2021.
PalmPay’s fundraising round experienced more of the Chinese-equity seed, especially the previous Chinese capitalists, including, Yunshi Equity Investment Management, Chengyu Capital, Chuangshi Capital, Trust Capital, etc. The previous $40m deal bought PalmPay Nigeria high-end hardware to process instant payment.
PalmPay is set to multiply its financial options with additional ad marketing alongside cashback, rewards, discounts, airtime, bill payment, wallets, and real-time point-of-sale service. PalmPay’s POS has served Africa’s underserved populations.
Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
