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Stripe Acquires Paystack For $200M+ To Expand Into The African Continent - Nairaland / General - Nairaland

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Stripe Acquires Paystack For $200M+ To Expand Into The African Continent by echepops(m): 2:31pm On Oct 15, 2020
Stripe is acquiring Paystack, a startup out of Lagos, Nigeria that, like Stripe, provides a quick way to integrate payments services into an online or offline transaction by way of an API.

Paystack currently has around 60,000 customers, including small businesses, larger corporates, fintechs, educational institutions, and online betting companies, and the plan will be for it to continue operating independently, the companies said.

Terms of the deal are not being disclosed but sources close to it confirm that it’s over $200 million. That makes this the biggest startup acquisition to date to come out of Nigeria, as well as Stripe’s biggest acquisition to date anywhere. (Sendwave, acquired by WorldRemit in a $500 million deal in August, is based out of Kenya.)

It’s also a notable shift in Stripe’s strategy as it continues to mature: typically, it has only acquired smaller companies to expand its technology stack, rather than its global footprint.

Source: https://stephenechefu..com

lalasticlala

Re: Stripe Acquires Paystack For $200M+ To Expand Into The African Continent by Born2Breed(f): 2:36pm On Oct 15, 2020
See money.
Re: Stripe Acquires Paystack For $200M+ To Expand Into The African Continent by Andypamii(f): 2:44pm On Oct 15, 2020
echepops:
Stripe is acquiring Paystack, a startup out of Lagos, Nigeria that, like Stripe, provides a quick way to integrate payments services into an online or offline transaction by way of an API.

Paystack currently has around 60,000 customers, including small businesses, larger corporates, fintechs, educational institutions, and online betting companies, and the plan will be for it to continue operating independently, the companies said.

Terms of the deal are not being disclosed but sources close to it confirm that it’s over $200 million. That makes this the biggest startup acquisition to date to come out of Nigeria, as well as Stripe’s biggest acquisition to date anywhere. (Sendwave, acquired by WorldRemit in a $500 million deal in August, is based out of Kenya.)

It’s also a notable shift in Stripe’s strategy as it continues to mature: typically, it has only acquired smaller companies to expand its technology stack, rather than its global footprint.

Source: https://stephenechefu..com

lalasticlala




[color=#990000][/color]This paystack news sweet me die. These is a major win for Nigerian Tech. Congratulations PAYSTACK.

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