Without drawing too much attention away from the #ENDSARS movement taking the Nigerian tech space and indeed Nigeria itself by storm, the founders of Paystack, Shola Akinlade and Ezra Olubi have announced that the 5-year-old payments processing company has been acquired by Stripe.
The company owned by Jack Dorsey and Patrick Collison shared in a statement that is a timely opportunity as e-commerce in Nigeria is growing rapidly and is currently planning for the future.
Stripe is an American based technology company also in the financial technology space. The exact figure of the acquisition is not explicitly stated has been pegged in the $200 million range, the highest acquisition for any Nigerian Start-Up thus far.
The technology company which provides secure payments for close to 60,000 businesses of all sizes across the continent will continue to operate independently and maintains that there will be no disruption in their services and as such, there is no need for existing clients to make changes in their integrations.
They, however, mentioned that the acquisition will accelerate global expansion towards the execution of the company’s roadmap with the support of Stripe.