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PalmPay is raising approximately $200 million in an ongoing funding round to achieve unicorn status as it eyes a potential IPO in Hong Kong.
PRIVATEAug 05, 2026•4 days ago
Amount Raised
$200 Million
Round Type
IPO
NigeriaSoftware
Description
PalmPay, the African fintech backed by MediaTek, is preparing for a $1bn IPO, while currently discussing a $200m funding round. This new round aims to elevate the company's valuation and support its goals for global operations. The firm has established a strategic agreement with Hong Kong's OASES for this purpose. Founded in 2019, PalmPay continues to strengthen its financial services across Africa and Asia.
Company Information
Company
PalmPay
Location
Nigeria
About
Further checks in Crunchbase and Tracxn--platforms that track funding rounds in startups and private companies globally–reveal that the company closed the round in August 2021. The U.K.-headquartered startup also took money from Chinese investors for its Series A round, which is the second largest of its kind after unicorn Wave’s $200 million.
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NigeriaSoftware