Tayo Oviosu, founder and CEO of Paga, the online payments platform, announced yesterday that the company now has 5 million users on its service.
Oviosu had created Paga as a way of solving the inefficiency of payments in Nigeria for both businesses and consumers – and he began that journey seven years ago.
“So, technically, we really started our major push of Paga in September of 2012. At the time of the fundraise we had 125,000 users,” he says.
As at June 2015, Paga had hit 3 million users which took 3 years to achieve. Within the next 14 months, the platform was able to gain another 2 million users leading to a total of five million which it now has.
“Despite the macro situation in Nigeria we continue to grow at a strong pace. From Jan 2012-June 2015 (42 months) we processed US$1bn. The next 12 months, July 2015-July 2016, we processed over US$800m,” Oviosu says in a medium post.
Achieving these numbers are no small feat and props have to be given to Tayo Oviosu and the guys at Paga.