Paga, based in Nigeria has raised $10 million

Fintech Nigerian startup Paga has raised $10 million from the Global Innovation Fund, Goodwell, Adlevo Capital, Omidyar Network and Unreasonable Capital. The funding will be used to expand the mobile payments product to Ethiopia, Mexico and the Philippines. Paga has managed to raise $35 million over the years since its inception. Paga was founded in 2009 on the premise that mobile phones can be leveraged to bring financial services to all Africans. Paga works on the most basic SMS enabled phone and on all mobile networks so customers have the liberty to have their Paga account available at their fingertips regardless of what phone or network they are using.

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