Investors’ interest heightens as Paga meets payment needs of 4,000 businesses

One of Paga’s first investors, Tim Draper, founding partner of leading venture capital firms, Draper Associates and Draper Fisher Juvertson (DFJ), has expressed joy over the progress made on his investment in the firm (Paga).

Paga has over 4.7million customers, and 10,000 agents across Nigeria. As part of his visit to Paga, Tim Draper met with the Paga leadership team and Paga agents across Lagos State where the agents expressed how Paga has helped their business grow.

Adeyemi Ogeyingbo, one of Paga’s agents said, “Paga has helped me solve problems for people in my community. I help them pay their bills and send money to their people around Nigeria. I provide for my family with the income I make from transacting for Paga. Presently, I have an average of 50 people coming into my store to perform transactions with Paga on a daily basis. Paga has made me a big man in my area.”

Draper expressed excitement on the role Paga is playing in Nigeria especially with the current economic situation. He said, “What Paga is doing is extraordinary. We spent the day visiting several agents and we met their customers and it was exciting to see how customers valued having agents within their community. The customers can now do something with their day. Paga agents provide an essential service by giving their customers time to focus on more important things. It makes more sense to be able to pay all your bills in one place and in the same place; and also send money to anyone in the country either to their bank or phone number or cash pick-up at another agent’s or ATM. This is simply a much more effective and efficient way of transacting. What Paga is doing is one of the best things happening in Nigeria right now.”

Tayo Oviosu, Paga founder/CEO, who put together a two-hour session with Tim Draper and 20 Nigerian entrepreneurs and business owners, said, “We’re extremely humbled Tim Draper was able to see the potential of Paga in its early stage. His investment and support has been of great value to Paga over the years and we are excited to be able to show him how much progress we have made.”

“My experience with Paga has been terrific. It’s doing things just right and very well run and is going through a boom opportunity period with a good and steady growth and has a big opportunity ahead. Investing in Paga is one of the best things I have done,” Draper concluded.

HOPE MOSES-ASHIKE