Industry | Fintech |
---|---|
Founded | 2015 |
Founder | Shola Akinlade, Ezra Olubi |
Headquarters | Lagos, Nigeria |
Parent | Stripe |
Website | Paystack.com |
Paystack is a Nigerian financial technology company that offers payment processing services to businesses and was acquired by Irish-American financial services company Stripe for $200M in 2020. [1] [2] Its headquarters is located in Lagos, Nigeria. [3]
Paystack was founded in 2015 by Shola Akinlade and Ezra Olubi who met at Babcock University and worked in banking and IT before founding Paystack. [3] [4] In November 2015, it became the first Nigerian company to be accepted into the startup accelerator Y Combinator. [5] It expanded to Ghana in 2018, South Africa in 2021 and Kenya in 2023 [6]. [7]
In 2016, it raised $1.3M seed funding from Tencent and other investors. [8] In 2018, it raised $8M in a Series A funding led by Irish-American financial services company Stripe. [9] It was acquired in 2020 by Stripe for $200M in a bid to extend Stripe's reach in Africa. Before the acquisition, Paystack was reported to have been used by over 60,000 businesses in Nigeria and Ghana for the collection of online and offline payments. [1]
Industry | Fintech |
---|---|
Founded | 2015 |
Founder | Shola Akinlade, Ezra Olubi |
Headquarters | Lagos, Nigeria |
Parent | Stripe |
Website | Paystack.com |
Paystack is a Nigerian financial technology company that offers payment processing services to businesses and was acquired by Irish-American financial services company Stripe for $200M in 2020. [1] [2] Its headquarters is located in Lagos, Nigeria. [3]
Paystack was founded in 2015 by Shola Akinlade and Ezra Olubi who met at Babcock University and worked in banking and IT before founding Paystack. [3] [4] In November 2015, it became the first Nigerian company to be accepted into the startup accelerator Y Combinator. [5] It expanded to Ghana in 2018, South Africa in 2021 and Kenya in 2023 [6]. [7]
In 2016, it raised $1.3M seed funding from Tencent and other investors. [8] In 2018, it raised $8M in a Series A funding led by Irish-American financial services company Stripe. [9] It was acquired in 2020 by Stripe for $200M in a bid to extend Stripe's reach in Africa. Before the acquisition, Paystack was reported to have been used by over 60,000 businesses in Nigeria and Ghana for the collection of online and offline payments. [1]