Nigerian mobile payment company Paga has announced that it recently closed a $10 million financing deal led by UK-based investment fund Global Innovation Fund (GIF).
Also participating in the investment are existing investors in the company Goodwell, Adlevo Capital, Omidyar Network and Unreasonable Capital.
The financing will enable Paga further scale its business in Nigeria to drive the growth of its mobile wallet and agent network and explore expansion opportunities in other markets.
The new financing brings the total amount Paga has raised since inception in 2009 to $35 million.