Paystack raises USD 8 mln from Visa, Tencent, Stripe

Wednesday 29 August 2018 11:43 CET | News

Paystack, a Nigeria-based startup, has raised USD 8 million in a Series A round of funding led by Visa, Tencent, and Stripe.

The startup is active in Nigeria, where its payment API integrates with tens of thousands of businesses. According to TechCrunch, the startup plans to grow in its home market, as well as expand to more countries, starting with Ghana.

Paystack aims for a more modern approach on payments. Specifically, its focus is on integrating the wide range of payment options that Nigerians (and soon, those in other countries in Africa) use both to accept payments and make them.

Tencent also invested in Paystack’s previous round: the startup has raised USD 10 million to date.

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Keywords: Paystack, Visa, Tencent, Stripe, Africa, online payments, startup
Countries: World