Nige­rian fin­tech startup Paystack se­cures $1.3 mil­lion in­vest­ment from in­vestors

Financial Nigeria Magazine - - Finance -

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.

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