The founders of the Nigerian startup- Paystack are definitely smiling to the bank, as their start-up is been acquired by Stripe for over USD200 million or (92 billionNaira).
Paystack was founded in 2015 by Shola Akinlade and Ezra Olubi. The company is a financial servicing company with over 60,000 customers (small, medium & large scale business), which provides payment and collections both online & offline.
Stripe, the acquirer, is an international financial servicing company based in California, USA. Patrick Collison, the CEO and co-founder, said that the reason for the merger deal was to expand its operations to other highly viable locations across the globe, stating that eCommerce business in Nigeria is expected to grow by about 30% every year!