Five years after its high-profile acquisition by global payments giant Stripe, African fintech Paystack has reached a financial milestone, announcing group-level profitability as it restructures into a broader technology holding company with plans to push into artificial intelligence.
The company is launching The Stack Group TSG, a new parent company that will house its core payment business alongside newer ventures like a consumer payments app, a microfinance bank, and a venture studio focused on building a variety of products, including, notably, AI-led products .
The move comes as Paystack reports its payment volume has grown more than twelvefold since Stripes USD 200 M acquisition in 2020 . This scale-up has translated into profitability, providing the financial cushion for the company to experiment beyond its core business .
