What you don’t know about Paystack

I have personally declared my love for some Nigerian startups recently of which Paystack is one of them. I will be highlighting some things you probably don’t know about Paystack, a payment processing startup in Nigeria.



The norms has been no good thing can come out of Nigeria. If you don’t know, Paystack is a Nigerian startup founded by Shola Akinlade and Ezra Olubi both graduates of Babcock University and the startup  focuses on the processing of online transactions in Nigeria and to span through Africa.

Paystack is the first Nigerian Company to be invited by yCombinator

On 11th November 2015, Paystack became the first Nigerian company  to be invited to join the Y Combinator Accelerator program. The experience quite literally changed my life, opening doors and making it possible for my tiny team and I to have a shot at making payments in Nigeria a little better.. Shola Akinlade, CEO of Paystack


And at the end of the day, yCombinator agreed to fund Paystack in January 2016; where it got seed funding of $120,000.

Paystack started as paystack.co

We launched with paystack.co, and it was about a year later that I was able to buy the .com domain from the previous owner. You know the freaky thing? The domain used to belong to a different Y Combinator company called PayStack, from the Summer 2011 YC batch! Many thanks to former PayStack CEO Sam Vafee for agreeing to sell us the domain!..Shola Akinlade, CEO of Paystack

Paystack is headquartered in Silicon Valley, San Francisco

Paystack is headquartered in the US but some of its team are resident in Nigeria and funny enough, they only have 5 engineers in Nigeria.

Paystack is a Nigerian startup
Paystack Processed 1 Billion Naira in a month

At exactly 9:56 PM (WAT) on the 25th of July, 2017, Paystack crossed a billion Naira processed in a single month.

Of course, there many things to be known about Paystack. Tell us more using the comment box.

Oluwaseun Hephzibah, Innovator @ Stackpreneur

I'm an entrepreneur, Tech Enthusiast, IT Consultant and guitarist. I'm a great motivator and I can push you to achieve your dream. ------------------------------------------------------ email: babatundeseun2014[at]gmail.com

We love comments