FinTech giant Stripe has announced it will acquire Nigerian payments startup Paystack.
In Brief:
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Stripe already invested in Paystack, leading its Series A round in 2018.
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It has also been providing guidance for the firm to scale.
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Paystack offers a payment solution for businesses that works through websites and apps.
What does this mean?
Stripe hopes to expand its footprint into the African payments market. Paystack currently has about 60,000 customers across Nigeria and Ghana of various sizes. It will continue to operate independently after the deal.
