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Paystack Tag

What Paystack Acquisition Means For The Nigerian Startup Ecosystem

Last week, US-based payments giant, Stripe, announced its acquisition of five-year-old Nigerian payments startup, Paystack, for more than $200 million. Asides being the biggest acquisition of a Nigerian startup, this is also Stripe’s largest check for any startup. At a time when innovation and opportunities in financial technology are reaching unprecedented heights, this deal seems to be the icing on the cake. Read also: Catalyst Fund Launches A New $4.3m Accelerator Program For Ecommerce Startups In Ghana Shola Akinlade, Paystack’s Founder and CEO, had this to say about the acquisition. “Paystack is a growth engine for modern businesses in Africa, and we couldn’t be more excited to join forces with Stripe, whose mission and...

Stripe Acquires Nigeria’s Paystack For $200M+ To Expand Into The African Continent

When Stripe  announced earlier this year that it had picked up another $600 million in funding, it said one big reason for the funding was to expand its API-based payments services into more geographies. Today the company is coming good on that plan in the form of some M&A. Stripe is acquiring Paystack, a startup out of Lagos, Nigeria that, like Stripe, provides a quick way to integrate payments services into an online or offline transaction by way of an API. (We and others have referred to it in the past as “the Stripe of Africa.”) Paystack  currently has around 60,000 customers, including small businesses, larger corporates, fintechs, educational institutions and online betting companies, and...

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