Technet: Daily Crunch - Stripe acquires Nigeria's Paystack

Thursday, October 15, 2020

The big story: Stripe acquires Nigeria's Paystack

Stripe has made its biggest acquisition to date. It announced today that it bought Paystack, a Lagos-headquartered startup that makes it easy to integrate payment services — we’ve referred to it in the past as “the Stripe of Africa.”

Sources tell us that the acquisition price was more than $200 million.

In an interview with TechCrunch, Stripe CEO Patrick Collison said that expanding into Africa presents the company with “an enormous opportunity,” adding that Stripe is planning for “a longer time horizon” than most other companies: “We are thinking of what the world will look like in 2040-2050.”

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Image Credits: Paystack

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