CB Insights has listed Nigeria’s leading Fintech company, Paga, on the second annual Fintech 250 list, a prestigious group of emerging private companies working on groundbreaking financial technology.
The Chief Executive of CB Insight, Anand Sanwal, in a statement earlier this week said, “This year, we’ve added 113 new companies to the Fintech 250 using the CB Insights Mosaic algorithm, and the group is broad, covering everything from insurance tech to consumer banking and to capital markets tech.
“We look forward to the success of this year’s group”.
Founder/ CEO of Paga, Mr Tayo Oviosu, reacting to development stated: “We are proud to be on the Fintech 250 list two years in a row.
“Paga was founded on the belief that everyone deserves the ability to easily access and use money, and it is very exciting what we have been able to achieve in six years of commercial operations.
“Nigeria is our first market and we are nearing 10 million unique users and have built the largest distribution network for financial services with over 17,500 agents.
“Innovation and collaboration are at the core of our company, and we are looking to take our solutions beyond Nigeria, to other markets where they are needed”
The CB Insights research team selected the Fintech 250 companies based on several factors including data submitted by each company and their Mosaic Score.
Paga is a mobile payment company that was founded in 2009 by Tayo Oviosu. They have gone on to become the largest and most successful mobile money company in Nigeria, by building an ecosystem to enable people to digitally send and receive money, and creating simple financial access for everyone.