Acclaimed investor, Tim Draper invests in Nigerian Mobile Money startup; Pagatech

By Sheriff Shittu, Founder – Webtrends Nigeria

Paga, the pioneering mobile money platform in Nigeria, launched in February 2011 after receiving approval from the Central Bank of Nigeria. The company’s initial set of products are delivered to meet critical needs of the Nigerian public: ability to transfer money fast and reliably, pay bills, top-up airtime or pay merchants safely. Paga delivers these services via the mobile phone and internet. The annnoucement was written on their blog today about the latest investment in their business;

Today, we announced the investment of Tim Draper in our company! Tim, who is the Founder and a Managing Director of Draper Fisher Jurvetson, is known for investing in early stage companies and in emerging markets. Some of the successes under his belt include investments in Skype, Baidu (Chinese search engine), and Hotmail (acquired by Microsoft).

We feel very fortunate to have Tim as a personal investor in Paga. His vote of confidence is humbling and we are grateful for the time he continues to spend with us. With him on board we are even more fired up about transforming lives by delivering innovative and universal access to financial services across Africa!

“My decision to make this personal investment is premised on the simple fact that I believe in the bold vision of the Paga team and I trust in their ability to execute. Paga is a great innovation which will simplify life for millions of people in Nigeria and beyond. I look forward to the company being a major African success story that serves as an example for many more to come,” Draper said recently.

Read Tim Draper’s bio on Crunchbase here

Webtrends Nigeria – Content Partner

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