Paystack, a Nigerian fintech startup founded by Shola Akinlade and Ezra Olubi, has been making significant strides in the African market since its establishment in 2015. As the first Nigerian startup invited to join the Y Combinator accelerator program, Paystack has expanded its reach, serving over 60,000 businesses across Africa and processing billions of dollars in transactions annually. In 2020, Paystack made headlines when it was acquired by Stripe, the Irish-American financial services company powering online payments for some of the world’s largest firms. This deal, reportedly valued at over $200 million, stands as the most substantial acquisition of an African startup and represents a pivotal moment for the continent’s tech ecosystem.

Source: The North Africa Journal October 06, 2023 01:08 UTC