Stripe-owned Nigerian fintech Paystack is launching in South Africa
Paystack CEO Shola Akinlade
Paystack, the fintech start-up acquired last year by US fintech leader Stripe, is establishing a presence in South Africa as it looks to cement its position as a major player in the African online payments industry.
The company described the decision to launch in South Africa as a “significant milestone in our pan-African expansion road map” and one that will help drive up intra-African trade.
“Our launch in South Africa, Africa’s second largest economy, takes us one step closer to our goal of accelerating commerce and removing barriers to trade across Africa,” the company said in a statement on Wednesday. It comes after a six-month pilot in the country and is the third market in which Paystack has launched, after Nigeria and Ghana. Clients include MTN Group, Spar and UPS.
Stripe, Flutter Entertainment among Time100 most influential companies Both companies were recognised for growth trajectory
about 3 hours ago
Irish-founded Stripe has been named among Time’s 100 most influential companies fro 2021, joining Moderna, Nintendo and Netflix in the innovators section.
The payments company wasn’t the only business with a significant Irish link to make the list, however; Paddy Power owner Flutter Entertainment was also named in the innovators category, alongside Zoom and Spotify.
The list of influential companies is a new addition to the Time100 franchise for this year, highlighting companies that have made what the publication considers an “extraordinary impact” around the world.
Roam Research This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
Roam Research began a crowdfunding campaign on Monday to give early adopters a slice of the company.
The fundraise was oversubscribed in an hour, the CEO tweeted. It s raised more than $1.6 million.
The startup s note-taking app has garnered a loyal following that goes by the name #roamcult.
Roam Research, a startup that makes a web-based notes app, sent an email to some of its paying users on Monday saying it had opened a crowdfunding campaign through WeFunder, so users could own a piece of the company.
After almost five years of having to be described as the Stripe of Africa, Paystack finally became a part of Stripe in a major acquisition which caused ripples of excitement across the fintech industry. The reality that two young Nigerian men, who did not school abroad, could start and grow a company that would be acquired by a Silicon Valley Company is more than a little exciting.
The acquisition is valued at over $200 million, Stripe’s biggest acquisition to date and the biggest startup acquisition in Nigeria so far. This is the story the world knows, what many do not know is the history that preceded and naturally led to this acquisition.