Nigerian fintech firm Paga Group has entered the US market through a partnership with Regent Bank, an Oklahoma-based institution, Bloomberg reported.
Together, companies have launched a digital wallet that allows users to link bank accounts in both the US and Nigeria, making it easier for Nigerians in the diaspora to make payments back home without transferring funds across borders.
The initial rollout targets the estimated 700,000 Nigerians living in the U.S., but the broader goal is to reach the entire African diaspora, which exceeds 4 million people in the U.S. alone.
‘This is just the beginning,’ said CEO Tayo Oviosu. ‘Regent is the first of several US partners. We are building a network of banking relationships across the country to provide full coverage, resilience, and flexibility for our customers.’
Paga joins other African fintechs, including Flutterwave, Chipper Cash, and Moove that are expanding into the US as demand for inclusive financial services grows among expatriate communities.
The company is also preparing to raise new capital to support this expansion, marking its first fundraising round since 2018. According to Oviosu, long-term plans include either listing Paga on the New York Stock Exchange or pursuing a strategic acquisition, although both remain a few years away.
Paga’s expansion reflects a broader trend of African startups scaling beyond the continent to meet the financial needs of their global communities, especially in key markets like the US.
Founded in 2009, Paga is backed by notable investors, including former Goldman Sachs Asset Management Chairman Jim O’Neill. The company has long focused on simplifying payments in emerging markets and sees the African diaspora as a key growth opportunity.