Nigeria - based Paystack has raised $ 8 m in series A funding , backed by Stripe , Visa , Tencent and Y ventures . The online payment processing start - up has created five application programming interfaces , enabling developers to create online checkouts , automated billing systems and instant transfer tools . Paystack , which handles 15 % of Nigeria 's online payments , will use the platform 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.