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.
Otosirieze Obi-Young is Editor of Folio Nigeria, where he profiles innovators and facilitators in culture: art, business, entertainment, activism, health, food. He is a writer, journalist, curator, media consultant, former academic, and Founder & Editor-in-Chief of Open Country Mag, a new online platform covering African literature. In 2019, he received the inaugural The Future Awards Africa Prize for Literature. In 2020, he was named among "The 100 Most Influential Young Nigerians" by Avance Media. Find him on otosirieze.com or on Twitter & Insta: @otosirieze.