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 Aug 31, 2026, the latest employee count at Paystack is 319.

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.

Where does Paystack rank among its competitors?

Paystack ranks 14th amongst 3103 active competitors, of which 285 are funded. It stands 10th in terms of total funding among its competitors. The most recent competitor to raise funding was Flutterwave, which secured an undisclosed amount in Jul, 2026.

Who are the top competitors of Paystack?

Paystack's top competitors include Flutterwave, Airwallex and PayU. Among them, Flutterwave secured the most recent funding round in July, 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 3103 active competitors, including 285 funded and 251 that have exited. Its top competitors include companies like Flutterwave, Airwallex and PayU.

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

14^th among 3103 active competitors

Employee Count

319 as on Aug 31, 2026

Investment & Acquisitions

Ladder Microfinance Bank & 1 more

Similar Companies

Airwallex & 580 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	8801446	Series A	2969653	5782687	1878645	4155480
Dec 19, 2016	3716763	Seed	3781731	1442228	4787227	M&S Capital Partners & 8 more
Mar 22, 2016	9016647	Seed	1684055	9001658	Y Combinator	3586109

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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 319 employees as of Aug 26. Here is Paystack's employee count trend over the years:

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Top competitors of Paystack include Flutterwave, Airwallex and PayU. 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	Flutterwave 2016, San Francisco (United States), Series E	Provider of payment solutions for online and physical business transactions	$489M	Greycroft, Mastercard & 73 others	83/100
2nd	Airwallex 2015, San Francisco (United States), Series H	Provider of financial infrastructure for processing payments and managing treasury	$1.9B	Lone Pine Capital, Addition & 52 others	83/100
3rd	PayU 2002, Amsterdam (Netherlands), Funding Raised	Provider of online payment solutions and financial services for businesses	-	PROSPER, Gecad Ventures & 4 others	79/100
4th	NIUM 2014, Singapore (Singapore), Series E	Cross-border money transfer solutions for businesses	$312M	GSR Ventures, Vertex Holdings & 35 others	79/100
5th	Rapyd 2016, London (United Kingdom), Series F	Provider of financial infrastructure for processing payments and issuing cards	$1.01B	Tal Capital, Durable Capital Partners & 34 others	76/100
6th	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
7th	Thunes 2016, Singapore (Singapore), Series D	Provider of a global payment infrastructure platform for businesses and financial institutions to facilitate cross-border transactions	$362M	Marshall Wace, Vitruvian Partners & 19 others	74/100
8th	Iyzi Payments 2012, Istanbul (Turkey), Acquired	Provider of payment solutions for e-commerce companies and individuals	$28M	VEF, IFC & 8 others	72/100
9th	BlueSnap 2001, Waltham (United States), Acquired	International payment solution	$68M	Great Hill Partners, Parthenon Capital & 1 others	69/100
10th	Skydo 2022, Bengaluru (India), Series A	Digital platform enabling businesses to receive payments from overseas businesses	$20M	Elevation Capital, SIG Venture Capital & 5 others	68/100
14th	Paystack 2015, Lagos (Nigeria), Acquired	Payment processing solutions for businesses	$11.7M	Wavelaunch, Visa & 30 others	67/100