Paystack Launches Holding Company After Hitting Profitability, Payment Volumes Surge 12x Since Stripe Acquisition
- Paystack achieved profitability and established The Stack Group as its parent company.
- The company processed ₦1 trillion in transactions in July 2024, a historic milestone for Nigeria.
- Payment volumes increased twelvefold since Stripe's acquisition in 2020.
Paystack's evolution into a diversified fintech group under The Stack Group is a significant development in Africa's financial landscape. This strategic approach not only enhances its service offerings but also sets a precedent for sustainable growth in the fintech sector, encouraging other companies to prioritize profitability alongside expansion.
