Paystack
Modern online and offline payments for Africa.
What it does
Founded in 2015 by Shola Akinlade and Ezra Olubi to help African businesses accept payments online and offline. A Y Combinator (Winter 2016) alumnus and one of the first Nigerian startups in the program. In October 2020 Stripe acquired Paystack for over $200 million in one of Africa's largest fintech exits at the time. In January 2026 Paystack announced The Stack Group as its new parent company — co-owned by Stripe, Shola Akinlade, and Paystack employees — after achieving group-level profitability and 12x payment volume growth since the Stripe acquisition. Paystack serves 300,000+ businesses across five African markets representing 46% of Africa's GDP.
Payment gatewaysPayment processors / acquirersPayment links / invoicingRecurring billing & subscriptionsPOS / mPOS solutionsBulk / mass payouts
Known for
- Developer-friendly documentation
- Fast, simple integration
- Reliable payment success rates
- Strong merchant support
- Stripe acquisition landmark exit
- N1 trillion in monthly transaction volume (July 2024)
Model & industry
Payments-as-a-ServiceAPI-as-a-ProductRetail & E-commerce
Funding history
$1.3M
Total raised
1
Rounds
Seed
Latest stage
2016
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2016-08 | Seed | $1.3M | Y Combinator |
Source: Condia Funding Tracker
Products & subsidiaries
Paystack Checkout · Payment GatewayPaystack Terminal · POS HardwarePaystack Virtual Terminal · Software POSPaystack Transfer · Payouts APIPaystack Storefront · E-Commerce ToolPaystack Subscriptions · Recurring Billing
Acquisitions
- Brass (2024). Paystack led a consortium including PiggyVest, Ventures Platform, and P1 Ventures to acquire SME banking startup Brass. Brass ceased independent operations in June 2026, migrating customers to Paystack MFB.
Initiatives & programs
- Paystack Growth Program: A 4-week growth program for active Paystack merchants in Nigeria running SMEs, providing tools and coaching.
- Paystack Developer Roadshow: Developer community events and partner program to help developers find clients and build payment integrations.
- Paystack Commerce Bootcamp: Merchant education bootcamps teaching SMEs to leverage Paystack Payment Pages and Storefront for online sales.
In the News
- 2026-01 · Paystack announces The Stack Group parent company after achieving group-level profitability and 12x payment volume growth · Paystack Blog
- 2026-06 · Brass ceases independent operations, customers migrating to Paystack Microfinance Bank before July 31 2026 · TechCabal
- 2025-03 · Paystack launches Zap, its first-ever consumer payments app for bank transfers in Nigeria · Paystack
- 2024-06 · Paystack extends Virtual Terminal to Cote d'Ivoire, Ghana, Kenya, and South Africa · Paystack
- 2024-07 · Paystack processes N1 trillion (~$660M) in a single month for the first time · Paystack Blog