Nigeria-based Paystack has raised $8m in series A funding, backed by Visa, Stripe, Tencent and Y Combinator. The online payment processing start-up has created five application programming interfaces, allowing developers to build online checkouts, automated billing systems and instant transfer tools. Paystack, which processes 15% of Nigeria's online payments, will use the funds to expand across Africa and build out its infrastructure.
Nigeria-based Paystack has raised $8m in series A funding, backed by Stripe, Visa, Tencent and Y Combinator. The online payment processing start-up has created five application programming interfaces, allowing developers to build online checkouts, automated billing systems and instant transfer tools. Paystack, which processes 15% of Nigeria's online payments, will use the funds to expand across Africa and build out its infrastructure.