Ezra Olubi and Shola Akinlade Sell Paystack Payment System To Stripe

Date: 15-10-2020 4:49 pm (3 months ago) | Author: Daniel Bosai
- at 15-10-2020 04:49 PM (3 months ago)
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Young Nigerian entrepreneurs, Ezra Olubi and Shola Akinlade are the CTO and CEO of Nigerian payment company, Paystack. Paystack has essentially become the gold standard when it comes to remittances and payment in Africa. Funded in 2015, the duo have not sold their prized company to world leaders, stripe for the sum of $200M (US Dollars). Shola Akinlade revealed that the company will still continue to operate independent of Stripe, but all the company assets including the core business now belongs to Stripe. Stripe is the world's leader in payment and remittance solution, they provide payment for several e-commerce, online retailers and betting companies.
Here is the statement from Shola Akinlade on announcing the acquisition:

"Paystack was not for sale when Stripe approached us. For us, it’s about the mission...to accelerate payments on the continent, and I am convinced that Stripe will help us get there faster. It is a very natural move"

Stripe remains a private company and is yet to be made public, it is currently valued at $30BN. We would like to congratulate all the staff and members of the Paystack team on this deal with Stripe

Posted: at 15-10-2020 04:49 PM (3 months ago) | Hero


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