Strip Collisons becomes an investor with €7m punt on a Nigerian startup

  • Strip Collisons becomes an investor with €7m punt on a Nigerian startup
    Independent.t. E.
    Strip 9bn $online payments firm founded by Limerick brothers Patrick and John Collison, led the investment round of $8 million (€7 million) in the Nigerian payments Startup firm, Paystack.
    https://www.independent.ie/business/technology/news/collisons-stripe-turns-investor-with-7m-punt-on-nigerian-startup-37262078.html
    https://www.independent.ie/business/technology/article37262077.ece/ea3f2/AUTOCROP/h342/2018-08-29_bus_43645624_I1.JPG

  • Email

Strip 9bn $online payments firm founded by Limerick brothers Patrick and John Collison, led the investment round of $8 million (€7 million) in the Nigerian payments Startup firm, Paystack.

In the ’round of financing and series also is funded by Visa and Chinese Internet giant tencent.

Paystack increased by the process of 15pcs online payments in Nigeria, according to the company.

It acts as a mechanism of payments for tens of thousands of businesses in the West African country, which has the largest population in Africa with nearly 200 million people.

“The founders Paystack technical, fanatical, customer-focused and ruthlessly impatient,” said CEO of stripe Patrick Collison. “We are excited to bring such people in one of the fastest growing regions in the world.”

Funding will be used to fuel a Continental expansion Paystack to build their own payment infrastructure and to grow their engineering team, according to company executives.

Using Paystack, developers can convert a few lines of code to create the user services testing and building of automated billing systems for subscription products. The technology can also be used to send transfers to any Bank account in Nigeria and verify the identity of customers.

“How Paystack looks to expand rapidly across the continent, we are very pleased that the benefit of rich experience stripe, visa, and tencent,” said Shola Akinlade, CEO and co-founder Paystack.

“Our goal is to provide the African merchants with the tools and services they need to go toe-to-toe with the best companies in the world, and win.”

With headquarters in Lagos, Paystack was the first Nigerian company to be accepted into the famous program start-up accelerator USA, Schemer.

Online Business Classes