Paystack was $1 million 300 thousand seed round financing Tencent investment

Paystack is a company headquartered in Nigeria, Lagos financial technology start-up companies, the company recently announced $1 million 300 thousand seed round of financing, investors including the Tencent, Comcast Ventures, Singularity Investments, Spark, M& S Partners, Tokyo Founders Fund, Blue Rinc Capital, Pave Investments and several other angel investors. The company plans to use the new funds to expand the company’s engineering team, sales and marketing operations team in Lagos, while accelerating product development and customer information registration.

Paystack by Shola Akinlade and Olubi founded in 2015, the company recently just for e-commerce platform Shopify to create a payment gateway platform Ezra. Paystack’s online payment platform is associated with a variety of channels of payment, the user can accept payment by credit card, debit card, as well as the web version and the mobile bank transfer payments worldwide.

Paystack is the first technology company to join the YC project in Nigeria. Paystack co-founder and CEO Shola Akinlade said, "to join the YC project changed the company development, Y Combinator provides $120 thousand in funding for us, and we focus on creating products, strengthen the communication with customers, help us to focus on the details, to accelerate the expansion of the company’s core architecture. In addition, in our financing process, YC also provides help."

just finished the testing stage, and now Nigeria’s leading Internet Co iROKOtv, Jobberman, Payporte and Hotels.ng to establish a cooperative relationship, help the company to create a more convenient payment platform. In the company’s payment platform, but also to create a technology community, the community now has 30 independent developers, the use of the company’s REST APIs and customer database, to create plug-ins and tools for Paystack.

Shola Akinlade explained, "in terms of online payments, African companies will undoubtedly encounter many obstacles. We aimed at African companies in terms of payment problems, as they create and improve a payment products, hoping to accelerate the development of Africa online economy, including the development of on-demand services, e-commerce, tourism and health care, financial services and entertainment industry. We all know that Africa has a huge potential for development in the digital economy, and we have to do is to promote the development of the enterprise from the online payment, and thus fully tap the potential."

has now created a wide range of customer networks in Nigeria