Nigerian fintech startup, Paystack has just announced a Series A funding round to the tune of $8 million.
Being a payment platform that it is, thousands of businesses are integrated with Paystack’s API. With the new round, which surprisingly is backed by American payment company Stripe, Paystack will have the enablement to connect more businesses across the country.
Specifically, its focus is on integrating the wide range of options that are appealing to Nigerians when it comes to making and accepting payments.
There are other strategic investors in this Series A round and they include the likes of Visa, Chinese online giant and parent of WeChat, Tencent and a plethora of other companies.
Featured Image: (L-R) Paystack co-founders Shola Akinlade and Ezra Olubi.
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Nigerian startups raised $55.4m in Q1 2020; over 99% of which came from foreign sources. Find out more when you download the full report.