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Stripe Buys Nigeria’s Paystack for $200M

Stripe Buys Nigeria’s Paystack for $200M

Otosirieze Obi-Young
Stripe Buys Nigeria’s Paystack for $200M
Paystack founders Shola Akinlade, CEO, and Ezra Olubi, CTO. Credit: The Guardian.

The American financial and software services company Stripe has acquired Paystack in a deal worth over $200 million.

Paystack, founded in 2015 by CEO Shola Akinlade and CTO Ezra Olubi, is a Lagos-based startup that offers fast ways to integrate payment services into an online or offline transaction using an API. A few years ago, Stripe invested in Paystack, reportedly as a way to understand the market.

Paystack’s 60,000 customers include large corporations, small businesses, financial tech organisations, educational institutions, and online betting companies.

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