Digital bank PalmPay has once again gained international acclaim, securing a spot on CNBC and Statista’s 2025 Top 300 Fintech Companies in the World list. This recognition marks the second consecutive year that PalmPay has been acknowledged as one of the most innovative and impactful financial technology firms, standing alongside global giants like Revolut, Nubank, and Ant Group.
In a statement released on Tuesday, Sofia Zab, PalmPay’s Founding Chief Marketing Officer, described this recognition as a strong validation of the company’s commitment to financial inclusion in emerging markets. “To be recognized as one of the world’s top fintech companies is a powerful affirmation of our mission to build a more inclusive financial system,” she said.
Zab emphasized PalmPay’s strategy, which combines cutting-edge technology with extensive local distribution to address the needs of underserved communities. “Through a customer-first mindset, we’ve built Nigeria’s leading neobank,” she added.
Currently, PalmPay serves over 35 million registered users and processes up to 15 million transactions daily. In Nigeria, its core market, PalmPay operates as a full-service neobank, providing services such as transfers, bill payments, credit, savings, and insurance— all through its user-friendly mobile app.
The company boasts a nationwide network of over one million agents and merchant partners and offers POS and API-driven solutions for merchants and enterprise clients.
Jiapei Yan, the Group Chief Commercial Officer at PalmPay, stated that the platform is building a neobanking infrastructure tailored to the realities of emerging markets. “We are creating the infrastructure for a connected digital economy where people and businesses can thrive through reliable, inclusive financial tools,” Yan remarked.
He also noted that the CNBC and Statista ranking not only affirms PalmPay’s progress but highlights the vast opportunities in emerging markets. Recently, PalmPay expanded into Tanzania and Bangladesh, using smartphone device financing as a gateway to digital financial services for new users in these regions.
“Our focus remains on closing financial access gaps for everyday consumers and businesses while expanding the partner ecosystem that fuels our reach and impact,” Zab concluded.
Earlier this year, PalmPay ranked #2 overall and #1 in financial services on the Financial Times Africa’s Fastest-Growing Companies 2025 list, reflecting the company’s rapid growth and market traction based on revenue increases from 2020 to 2023.
