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Paystack to be acquired by Stripe to boost online and offline commerce in Africa

paystack to be acquired by stripe to boost online

Internal Revenue Service.

Paystack's customers are fintech, online betting companies, large corporates, and educational institutions. Exact terms of the deal remain scantly but word going round estimates the figure at $200 million. Stripe is currently valued at $36 billion.

Stripe is a technology company building economic infrastructure for the internet. The company's software is used by large companies such as Google, Shopify, Amazon, and Zoom.

The partnership between Paystack and Stripe has been a work in progress, given their close cooperation and being members of the Y Combinator accelerator program and leading their Series A funding round in 2018.

In a video share, Paystack CEO and co-founder Shola Akinlade publicly shared the news.


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