PalmPay Tops Financial Times 2025 List

PalmPay, the rising fintech powerhouse focused on emerging markets, has earned top honours as the fastest-growing financial services company and #2 overall on the Financial Times’ Fastest-Growing Companies in Africa 2025 list, created in collaboration with Statista.

The annual ranking celebrates standout African companies based on key indicators such as revenue growth, user adoption, and operational scale. From 2020 to 2023, PalmPay recorded a remarkable compound annual growth rate of 583.6 percent, driven by its relentless efforts to scale accessible, tech-enabled financial services across Nigeria and other key markets.

Now serving over 35 million registered users and processing up to 15 million daily transactions, PalmPay has positioned itself as a key force in Africa’s digital financial transformation.

Sofia Zab, Founding Chief Marketing Officer at PalmPay, described the recognition as a strong endorsement of the company’s mission. “The Financial Times’ recognition of PalmPay as Africa’s fastest-growing fintech is a powerful validation of our mission,” she said. “By merging advanced technology with localised innovation, we have created a neobank that empowers tens of millions across Africa. Our goal is not just financial access—but financial progress.”

PalmPay’s success lies in its hybrid model that combines a user-friendly financial superapp with a vast offline network of more than one million merchants and agents, ensuring financial access in even the most underserved communities. Its offerings span money transfers, merchant and bill payments, digital credit, savings and investment tools, micro-insurance, and enterprise tools tailored to small businesses. The company also provides B2B payment services that make it easier for local and international merchants to reach African consumers.

Currently operating in Nigeria, Ghana, Tanzania, and Bangladesh, PalmPay is scaling quickly with plans to deepen its footprint and product ecosystem. Zab stated that as the company grows, it remains focused on supporting users in achieving their financial goals, while unlocking new opportunities for partners and merchants across its network.