PalmPay ranked Prime Fintech and #2 total within the {Financial} Instances Quickest-Rising Firms 2025 Checklist
PalmPay, a number one neobank and fintech platform centered on rising markets, has been recognised because the fastest-growing {financial} providers firm within the {Financial} Instances’ Quickest-Rising Firms in Africa 2025 record, compiled in collaboration with Statista.
PalmPay positioned #2 total out of 130 firms featured on this yr’s record.
The annual rating evaluates Africa-based companies based mostly on key efficiency indicators comparable to income development, consumer adoption, and operational scale.
From 2020 to 2023, PalmPay achieved a compound annual development charge (CAGR) of 583.6% – a results of scaling tech-enabled {financial} providers in Nigeria.
With over 35 million registered customers and as much as 15 million every day transactions as of 2025, PalmPay has emerged as a key participant within the digital transformation of Africa’s financial system.
“The {Financial} Instances’ recognition of PalmPay as Africa’s fastest-growing fintech is a strong validation of our method to closing {financial} entry gaps in underserved markets”, stated Sofia Zab, Founding Chief Advertising and marketing Officer at PalmPay. “We’ve mixed cutting-edge expertise with localised innovation and distribution to construct a number one neobank utilized by tens of thousands and thousands to entry funds, credit score, financial savings, insurance coverage and extra. As we broaden our ecosystem and enter extra markets, we’re excited to proceed supporting our customers to realize their {financial} objectives, whereas accelerating development for our companions.”
PalmPay’s progressive mannequin combines a user-friendly {financial} superapp with an intensive offline community of over 1 million retailers and brokers, enabling seamless {financial} providers even in underbanked communities. Its product suite consists of cash transfers, service provider funds, credit score, financial savings and funding merchandise, micro-insurance, and enterprise instruments for MSMEs. PalmPay additionally offers B2B cost providers to streamline collections and disbursements to native and worldwide retailers focusing on African shoppers. The corporate at the moment operates in Nigeria, Ghana, Tanzania and Bangladesh.
“Our development is propelled by a transparent imaginative and prescient: to empower companies and people with frictionless, dependable {financial} instruments”, stated Jiapei Yan, Group Chief Business Officer at PalmPay. “We’re deepening partnerships throughout the fintech ecosystem to reinforce cost infrastructure and foster a extra linked African financial system. As we scale, we stay centered on accessibility, innovation, and regional collaboration to drive the expansion of digital economies in rising markets.”
PalmPay’s main place within the {Financial} Instances’ rating additional underscores its pivotal position in advancing {financial} inclusion and cashless cost adoption since launching in 2019. On common, prospects full over 50 transactions monthly, utilizing the platform for all the pieces from on a regular basis funds to providers that construct long-term {financial} well being, comparable to yield-bearing financial savings and insurance coverage – merchandise beforehand out of attain for a lot of. 1 / 4 of its customers report that PalmPay was their first-ever {financial} account, demonstrating its power in onboarding excluded populations into the formal financial system whereas driving constant, high-frequency engagement.
For extra details about PalmPay and its providers, go to www.palmpay.com
About PalmPay
PalmPay is a number one rising markets-focused fintech platform dedicated to driving {financial} inclusion and {economic} empowerment. By its safe, user-friendly, and inclusive suite {of financial} providers, PalmPay empowers people and companies with instruments to handle and develop their cash.
PalmPay provides a complete vary of merchandise together with cell funds, embedded credit score, financial savings and micro-insurance by way of its app and cell cash agent community. Since launching in Nigeria in 2019 below a Cell Cash Operator license, the platform has grown to over 35 million app customers and connects over one million companies by means of its community of brokers and retailers. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh..
For extra data, go to www.palmpay.com
