Get the latest tech news
Profitable African fintech PalmPay is in talks to raise as much as $100M
PalmPay, an African digital bank fintech, is in talks to raise between $50-100 million in a Series B round, according to multiple sources.
The new capital, expected to include both equity and debt, will fuel PalmPay’s expansion: deepening its footprint in Nigeria, scaling its newer business-focused offering, and rolling out both products in new markets across Africa and Asia. The company launched an app featuring instant onboarding, zero transfer fees, and a growing suite of services (including credit, savings, insurance, and bill payments) all tailored to the needs of underbanked consumers and small businesses. While Transsion, which led PalmPay’s seed round, remains a strategic partner, the company’s spokesperson says the fintech is actively exploring collaborations with more original equipment manufacturers (OEMs).
Or read this on TechCrunch