Nigerian fintech startup Paystack secures $1.3 million investment from investors
Paystack, a Nigerian fintech startup, secured $1.3 million in seed-stage investment from both international and local investors to fund the company’s expansion. Shola Akinlade, Paystack’s CEO, said the company plans to use the investment to build its engineering team, grow sales and marketing operations, and accelerate product development.
Some of the investors who participated in the seed funding round include Tencent, Comcast Ventures and Singularity Investments, Olumide Soyombo of Leadpath, Tokyo Founders Fund, Blue Rinc Capital, Spark, and Pave Investments, according to Forbes.
Founded in 2014, Paystack allows merchants accept payments via credit card, debit card, money transfer and mobile money on their websites or mobile apps.