 | |
| 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. 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 Shopify 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 Pan-African technology company that is built around a marketplace, logistics service and payment service. The logistics service enables the delivery of packages through a network of local partners while the payment services facilitate the payments of online transactions within Jumia’s ecosystem. It has partnered with more than 100,000 active sellers and individuals and it competes at various levels, indirectly with retailers such as Jiji and Maybrands limited, and is a direct competitor to Konga in Nigeria, and Amazon and Noon in Egypt.
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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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Moniepoint Inc., is a fintech company founded by Tosin Eniolorunda and Felix Ike in 2015 focusing on providing financial solutions for businesses.
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.
Kippa is a Nigerian software and financial services company based in Lagos, Nigeria. The company was founded by brothers Kennedy Ekezie and Duke Ekezie.
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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.