About Paystack
Paystack is a company based in Lagos (Nigeria) founded in 2015 was acquired by Stripe in October 2020.. Paystack has raised $9.42 million across 3 funding rounds from investors including Stripe, Tencent and Visa. Paystack has completed 1 acquisition, including Brass. Paystack operates in a competitive market with competitors including Tipalti, Payoneer, Airwallex, Rapyd and NIUM, among others.
- Headquarter Lagos, Nigeria
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Sectors
Financial Services
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Email
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Phone
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Website
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Funding Insights of Paystack
Paystack has successfully raised a total of $9.42M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $8 million completed in August 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $8.0M
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First Round
First Round
(22 Mar 2016)
- Investors Count 18
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2018 | Amount | Series A - Paystack | Valuation | Stripe | |
| Dec, 2016 | Amount | Seed - Paystack | Valuation | Tencent , Comcast Ventures | |
| Mar, 2016 | Amount | Seed - Paystack | Valuation | Y Combinator |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Paystack
Paystack has secured backing from 18 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Stripe, Tencent and Visa. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Comcast Ventures is focused on investing in technology startups.
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Founded Year | Domain | Location | |
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Early & Growth stage tech-focused VC Firm investing in geographies such as Africa
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Paystack
Paystack has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Brass. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Brass is recognized for providing smart financial tools for businesses.
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2019 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Paystack
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Paystack Comparisons
Competitors of Paystack
Paystack operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Tipalti, Payoneer, Airwallex, Rapyd and NIUM, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud-based procurement and invoice management solutions are offered to businesses.
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| domain | founded_year | HQ Location |
Cross-border payments are enabled for businesses via diverse payout methods.
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| domain | founded_year | HQ Location |
Cross-border payments are processed for businesses via tools and APIs.
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| domain | founded_year | HQ Location |
Global payment solutions are provided by Rapyd to businesses worldwide.
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| domain | founded_year | HQ Location |
Cross-border money transfer solutions are provided for businesses globally.
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| domain | founded_year | HQ Location |
Cloud-based payment solutions are provided for cross-border transactions.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Paystack
Frequently Asked Questions about Paystack
When was Paystack founded?
Paystack was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Paystack located?
Paystack is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Is Paystack a funded company?
Paystack is a funded company, having raised a total of $9.42M across 3 funding rounds to date. The company's 1st funding round was a Seed of $120K, raised on Mar 22, 2016.
What does Paystack do?
Paystack was founded in 2015 in Lagos, Nigeria, within the fintech sector. Operations focus on enabling various payment methods, including digital and card payments, mobile money, recurring billing, QR codes, POS terminals, and bank transfers. Fraud detection is integrated to handle fraudulent transactions and chargeback claims, while reporting tools support accounting, reconciliation, and audits for users across the region.
Who are the top competitors of Paystack?
How many acquisitions has Paystack made?
Paystack has made 1 acquisition, including Brass.
Who are Paystack's investors?
Paystack has 18 investors. Key investors include Stripe, Tencent, Visa, Comcast Ventures, and Singularity Investments.
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