The round also included participation from local investors including Spark, an investment company run by Jason Njoku, founder of iROKOtv, http://qz.com reports. Paystack is also backed by the Y Combinator project, having become the first Nigerian start-up accepted into the Silicon Valley-based incubator.
Other players in the fast developing sector include Paga, Flutterwave and payment arms of ecommerce players Konga and Jumia.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now