What the Stripe-Paystack deal means for Nigerian fintech - Jeune Afrique

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Lagos, Nigeria.

Lagos, Nigeria. © Sunday Alamba / AP / SIPA

The operation estimated at 200 million dollars gives international visibility to a growing Nigerian ecosystem of start-ups.

Stripe, an American financial services and software company, announced on October 15 that it was acquiring one of Nigeria's biggest fintech giants, Paystack. A transaction considered to be Nigeria's largest start-up acquisition.

While details of the transaction were not immediately made public, TNP, a Lagos-based law firm that advised the acquisition, said in a tweet that the investment is "more than $ 200 million ".

"This is a strong signal as to the maturity of business angels local, and proof that Nigerian start-ups are bankable, ”comments Tomi Davies, co-founder of the Lagos Angel Network (LAN) and chairman of the African Business Angel Network (ABAN).

"Huge visibility"

The latter, who recalls that the young shoot "began the journey with Shola [Akinlade] and Ezra [Olubi]", believes that the deal "validates our conviction that local investors are essential to the empowerment of start-up founders to create innovative solutions to the challenges of the continent ”.

This article appeared first on https://www.jeuneafrique.com/1059161/economie/ce-que-le-deal-stripe-paystack-signifie-pour-la-fintech-africaine/?utm_source=jeuneafrique&utm_medium=flux- rss & utm_campaign = rss-stream-young-africa-15-05-2018

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