Paystack Payments Limited

Paystack is a leading African fintech company that provides modern, secure, and scalable payment solutions for businesses. With a mission to simplify payments across the continent, Paystack empowers over 200,000 businesses—including startups, SMEs, and large enterprises—to accept online and offline payments from customers worldwide. Its platform supports various payment methods, including cards, bank transfers, mobile money, QR codes, and POS terminals.

Milestones and Growth:

• 2015: Founded by Nigerian software engineers Shola Akinlade and Ezra Olubi.
• 2016: Became the first Nigerian startup accepted into Y Combinator.
• 2016: Publicly launched after raising $1.3 million in seed funding from investors like Tencent and Comcast Ventures.
• 2018: Raised $8 million in Series A funding led by Stripe, with participation from Visa and Tencent.
• 2020: Acquired by Stripe for over $200 million, marking one of the largest fintech acquisitions in Africa.

Product Features:
Paystack offers a suite of tools tailored for developers, entrepreneurs, and enterprises:

• Payment APIs and SDKs for seamless integration.
• No-code and low-code solutions for quick setup.
• Recurring billing, subscription management, and invoicing features.
• Split payments and multi-currency support.
• Fraud detection and real-time transaction monitoring.

Geographic Reach:
Paystack operates in Nigeria, Ghana, South Africa, and Kenya, with plans to expand further across Africa. The company has offices in Lagos, Accra, Nairobi, Cape Town, and Dubai, and maintains a presence in the United States.

Strategic Direction:
As part of Stripe’s global payments ecosystem, Paystack continues to operate independently while leveraging Stripe’s infrastructure to enhance its offerings. The company focuses on deepening its presence in African markets, aiming to support more businesses and consolidate the fragmented payments landscape on the continent.