Stripe—Stripe acquired Nigerian payment processor Paystack for $200M+ to expand into Africa
In October 2020, Stripe acquired Paystack, a Nigerian payment processing company, in a deal reportedly worth over $200 million. Paystack had 60,000 users and gave Stripe infrastructure across five African countries (Ghana, Kenya, Nigeria, South Africa, and Côte d'Ivoire). The acquisition was aimed at enabling African businesses to access global payment infrastructure, supporting the continent's growing technology ecosystem.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Open Internet & Web Freedom | +toward | primary | +1.00 |
| Overall incident score = | +0.572 | ||
Score = avg(topic contributions) × significance (medium ×1) × confidence (0.57)
Evidence (1 signal)
The Hustle reported Stripe acquired Paystack for $200M+ to enter African market
The Hustle reported on Stripe's acquisition of Paystack, Nigeria's largest payment processor with 60,000 users, for over $200 million. The deal gave Stripe infrastructure across five African countries and was described as giving Stripe 'a toehold on the continent, which is projected to have half the world's population by 2050.'