When was Paystack founded?

Paystack was founded in 2015 and raised its 1st funding round 1 year after it was founded.

Where is Paystack located?

Paystack is headquartered in Lagos, Nigeria.

Who is the current CEO of Paystack?

Shola Akinlade of Paystack. They are also angel investors in 9 startups, including Precurio.

How many employees does Paystack have?

As of May 31, 2026, the latest employee count at Paystack is 304.

Is Paystack a funded company?

Paystack is a funded company, having raised a total of $11.7M across 3 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Mar 22, 2016.

When was the latest funding round of Paystack?

Paystack's latest funding was a $***** Series A round on Aug 28, 2018, with participation from 7 investors. Its primary sector is Payments. Globally, the Payments sector has seen $5.53B in funding in 2026 to date.

Where does Paystack rank among its competitors?

Paystack ranks 17th amongst 2773 active competitors, of which 281 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was Airwallex, which secured $320M in Jun, 2026.

Who are the top competitors of Paystack?

Paystack's top competitors include PayPal, PayU and Flutterwave. Among them, Airwallex secured the most recent funding round in June, 2026.

Paystack - 2026 Company Profile, Team, Funding & Competitors

Q: Is Paystack an acquired company?

Paystack got acquired by Stripe on Oct 15, 2020.

Paystack is an acquired company based in Lagos (Nigeria), founded in 2015 by Shola Akinlade. It operates as a Payment processing solutions for businesses. Paystack has raised $11.7M in funding from investors like Y Combinator, Stripe and Comcast Ventures. The company has 2773 active competitors, including 281 funded and 250 that have exited. Its top competitors include companies like PayPal, PayU and Flutterwave.

Company Details

Paystack provides payment processing solutions for businesses. It features digital payments, card payments, mobile money, recurring payments, QR based payments, POS terminals, bank transfer, and more. It also offers customers with fraud detection from fraudulent transaction & chargeback claims and reporting for accounting, reconciliation & audits.

Website: paystack.com
Social
Email ID: *****@paystack.com

Key Metrics

Founded Year

2015

Location

Lagos, Nigeria

Stage

Acquired

Total Funding

$11.7M in 3 rounds

Latest Funding Round

Series A, Aug 28, 2018, $*****

Investors

Y Combinator & 31 more

Ranked

17^th among 2773 active competitors

Employee Count

304 as on May 31, 2026

Investment & Acquisitions

Ladder Microfinance Bank & 1 more

Similar Companies

Airwallex & 500 more

Exit Details

Acquired by Stripe (Oct 15, 2020)

View Paystack's full profile

Paystack got acquired by Stripe on Oct 15, 2020 at an acquisition amount of $*****.

Click here to take a look at Paystack's acquisition in detail

Paystack has raised a total funding of $11.7M over 3 rounds. Its first funding round was on Mar 22, 2016. Its latest funding round was a Series A round on Aug 28, 2018 for $*****. 7 investors participated in its latest round. Paystack has 25 institutional investors and 7 angel investors.

Here is the list of recent funding rounds of Paystack:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Aug 28, 2018	3368102	Series A	3442224	1028175	9675605	9025735
Dec 19, 2016	2787612	Seed	4104802	1555503	6651337	M&S Capital Partners & 8 more
Mar 22, 2016	3483365	Seed	4525872	9502227	Y Combinator	9657809

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View details of Paystack's funding rounds and investors

The founders of Paystack is Shola Akinlade.

Here are the details of Paystack's key team members:

Shola Akinlade: Co-Founder & CEO of Paystack and founder of 1 other company. They are also an angel investor in 9 startups.
Contact Info: 1 email address

View details of Paystack's Founder profiles and Board Members

Paystack's employee count trend

Paystack has 304 employees as of May 26. Here is Paystack's employee count trend over the years:

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Top competitors of Paystack include PayPal, PayU and Flutterwave. Here is the list of Top 10 competitors of Paystack, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	PayPal 1998, United States, Public	Provider of online payment solutions, money transfers, and virtual wallets	$216M	ING, MDP & 29 others	87/100
2nd	PayU 2002, Amsterdam (Netherlands), Series C	Provider of online payment solutions and financial services for businesses	$35.1M	Naspers, PROSPER & 5 others	84/100
3rd	Flutterwave 2016, San Francisco (United States), Series E	Provider of payment solutions for online and physical business transactions	$489M	Greycroft, Tiger Global Management & 72 others	83/100
4th	Airwallex 2015, San Francisco (United States), Series H	Provider of financial infrastructure for processing payments and managing treasury	$1.9B	Lone Pine Capital, Addition & 49 others	82/100
5th	NIUM 2014, Singapore (Singapore), Series E	Cross-border money transfer solutions for businesses	$312M	GSR Ventures, Riverwood Capital & 35 others	78/100
6th	Thunes 2016, Singapore (Singapore), Series D	Provider of a global payment infrastructure platform for businesses and financial institutions to facilitate cross-border transactions	$362M	Vitruvian Partners, Insight Partners & 19 others	77/100
7th	Rapyd 2016, London (United Kingdom), Series F	Provider of financial infrastructure for processing payments and issuing cards	$1.01B	Tal Capital, Oak HC/FT & 33 others	76/100
8th	Currencycloud 2007, London (United Kingdom), Acquired	Provider of cross-border payment solutions and multi-currency payment infrastructure	$196M	Sapphire Ventures, Notion & 43 others	75/100
9th	Ant Group 2004, Hangzhou (China), Series D	Payment processing solution for consumers, small and micro businesses	$20.6B	T. Rowe Price, The Carlyle Group & 40 others	74/100
10th	Iyzi Payments 2012, Istanbul (Turkey), Acquired	Provider of payment solutions for e-commerce companies and individuals	$28M	VEF, IFC & 8 others	73/100
17th	Paystack 2015, Lagos (Nigeria), Acquired	Payment processing solutions for businesses	$11.7M	Wavelaunch, Visa & 30 others	67/100