 | |
| 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]
Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. Shopify is the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. The platform offers online retailers a suite of services including; payments, marketing, shipping and customer engagement tools.
Stripe, Inc. is an Irish-American multinational financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland. The company primarily offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications.
Jumia is a marketplace, logistics service and payment service, operating throughout Africa. The logistics service enables the delivery of packages through local partners while the payment services facilitate the payments of online transactions. It has partnered with more than 100,000 sellers and individuals.
Veem, formerly Align Commerce, is a San Francisco–based online global payments platform founded in 2014 by Marwan Forzley and Aldo Carrascoso. The company uses a payment routing method they refer to as "multi-rail technology," where transactions are routed through different methods, or "rails", such as credit cards, checks, or cryptocurrency.
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Shola Akinlade is a Nigerian software engineer and entrepreneur. He is the co-founder and CEO of Paystack, the company that he founded with Ezra Olubi. Paystack was acquired by Stripe in 2020 for $200m.
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Sporting Lagos FC is a professional football club from Lagos, Nigeria founded in 2022. The club currently competes in the Nigeria National League. the second tier of Nigeria's football league system, following relegation from the 2023–24 Nigeria Premier League. Nicknamed "The Tech Boys", Sporting Lagos played their home games at Mobolaji Johnson Arena also known as Onika Stadium.
Kora is a pan-African payment infrastructure company headquartered in Canada with offices in Nigeria and the United Kingdom. The fintech company enables local and global businesses to accept payins, make payouts, and get settled across popular payment channels across Africa.
Stitch is a fintech company operating in Africa providing open banking and payment products. The company's headquarters are located in Cape Town, South Africa.
Moniepoint is a Nigerian fintech company based in Lagos that provides banking services and loans via an online banking app. The company was founded by Tosin Eniolorunda and Felix Ike in 2015.
Kobo360 is an African tech-enabled digital logistics platform, headquartered in Lagos and connects cargo owners to truck owners, with a physical presence in 6 African countries, including Nigeria, Ghana, Kenya, Burkina Faso, and Ivory Coast.
GoCardless is a fintech company that specialises in bank payments including recurring payments, Direct Debit processing and Open Banking. GoCardless is headquartered in London.
Ingressive for Good also known as I4G is an African non-profit organization that focuses on poverty alleviation by providing educational and technological resources to young Africans.
Felix Manford is a Ghanaian business executive. He is the co-founder and CEO of Tendo, a Ghanaian e-commerce company founded in 2021, operates in Africa with a strong base in Ghana and Nigeria. Prior to this, Felix had served at Goldman Sachs UK working in the Global Investment Research division in UK, in 2018.
Ziina is a company based in Dubai, United Arab Emirates that specialises in digital payments. Its digital wallet is currently used in the United Arab Emirates.
Grey, formerly known as Aboki Africa, is a financial technology company headquartered in Delaware, US. Founded in 2020 by Idorenyin Obong and Femi Aghedo during the global pandemic of 2020, the company focuses on creating global financial products for digital nomads. Grey is registered and licensed in Canada by FinTrac and the USA by FinCen and operates in the financial service market. The business model of Grey revolves around offering an online platform that facilitates international transactions and currency exchange for users in countries across Africa, the United States, Europe, and now Latin America and South East Asia