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Nigerian fintech Paga joins Ping An Cloud Accelerator programme

Paga enters the fourth cohort of the Ping An Cloud Accelerator, a five-month programme created by Ping An Group

Nigeria-based fintech startup Paga has been selected to take part in the Ping An Cloud Accelerator programme, the media reported.

Paga, along with many startups from regions such as Southeast Asia and Europe applied to be part of the programme, which has an acceptance rate of just 2 percent.

Reportedly, around nine startups were chosen for the fourth cohort of the Ping An Cloud Accelerator-a five-months long programme.

Paga co-founder and director of business development Jay Alabraba, “We are proud to be chosen to be part of the Ping An Cloud Accelerator. Our relationship with the Ping An Group offers us the forum to experiment with cutting-edge tools within their global portfolio. The programme, which focuses on companies with already strong traction also presents the opportunity for our team to work closely with other emerging leaders in technology, finance, health, and other sectors.”

He added, “The timing is also great, given our expansion to new markets and the introduction of more services on Paga.”

The programme mainly focuses on five verticals, namely fintech, ehealth, autotech, proptech and smart city. Paga has reportedly applied to be a part of the Ping An Cloud Accelerator programme keeping in mind its plan to expand internationally.

Earlier this year, the payment startup announced that it has acquired Apposit, a US-based software company with operations in Addis Ababa, Ethiopia.

According to local media reports, the deal will help Paga expand into the East African and Latin American markets.

Last year, Paga raised around $10 million in a funding round and announced its plan to take its operations outside of Nigeria.

 

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