Total amount raised
$11.7 Millions
Latest funding date
08/01/2018
Location
Paystack has successfully secured funding from prominent investors such as Stripe, Visa, and Y Combinator. The company is dedicated to facilitating seamless online and offline payments for businesses across Africa.
Keep reading to explore the intricacies of Paystack's fundraising journey and the investors backing this innovative platform.
What Is Paystack?
Paystack is a fintech company that provides modern online and offline payment solutions for businesses in Africa. It supports various payment methods and offers high transaction success rates.
Founded in Lagos, Nigeria, Paystack has expanded its presence to multiple locations, including San Francisco, Cape Town, Accra, Dubai, Nairobi, and Abidjan. The company is trusted by over 200,000 businesses and is backed by notable investors.
How Much Funding Has Paystack Raised?
- Pre-Seed Round
- Amount Raised: $120K
- Date: March 2016
- Lead Investors: Y Combinator
- Seed Round
- Amount Raised: $1.3M
- Date: December 2016
- Lead Investors: Comcast Ventures, Singularity Investments, Tencent
- Non-Equity Assistance
- Amount Raised: -
- Date: October 2016
- Lead Investors: Samsung Electronics
- Non-Equity Assistance
- Amount Raised: $50K
- Date: May 2017
- Lead Investors: Google Launchpad Accelerator
- Series A
- Amount Raised: $10.2M
- Date: August 2018
- Lead Investors: Stripe
In total, Paystack has raised $11.67M.
Key Investors
- Stripe
- Details: Stripe is a technology company that builds economic infrastructure for the internet. Founded in 2010, it offers payment processing software and application programming interfaces for e-commerce websites and mobile applications.
- Investment Focus Areas: Fintech, e-commerce, SaaS
- Notable Investments: Shopify, Instacart, Lyft
- Google Launchpad Accelerator
- Details: Google Launchpad Accelerator is a program by Google that supports startups through mentorship and equity-free support. It aims to help startups scale their businesses and solve local problems.
- Investment Focus Areas: Technology, AI, mobile applications
- Notable Investments: Not publicly disclosed
- Comcast Ventures
- Details: Comcast Ventures is the venture capital affiliate of Comcast Corporation. It invests in innovative companies across various stages and sectors.
- Investment Focus Areas: Media, technology, consumer
- Notable Investments: Nextdoor, Houzz, FanDuel
- Singularity Investments
- Details: Singularity Investments is a private investment firm that focuses on high-growth opportunities in emerging markets. It aims to create long-term value through strategic investments.
- Investment Focus Areas: Technology, consumer goods, financial services
- Notable Investments: Not publicly disclosed
- Tencent
- Details: Tencent is a Chinese multinational conglomerate holding company. It is known for its various internet-related services and products, including social networks, music, web portals, e-commerce, and mobile games.
- Investment Focus Areas: Technology, gaming, social media
- Notable Investments: Epic Games, Tesla, Snap Inc.
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