A Nigerian business banking startup that provided digital banking solutions for small businesses before its acquisition.
Six years after Stripe, Paystack is learning to keep money
Stripe acquired Paystack for $200 million in October 2020, marking the largest acquisition of a Nigerian startup. Paystack expanded its operations to several African countries, including Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa.
Brass Announces Full Transition Into Paystack MFB; Ceases as an Independent Entity
Brass launched in 2020, providing Nigerian SMEs with quick banking solutions. In October 2023, Brass experienced a liquidity crisis due to withdrawal delays.
Nigerian business banking startup Brass merges operations into Paystack MFB
Brass will stop operating as an independent company and migrate customers into Paystack Microfinance Bank. The transition is set to be completed before July 31, 2026.
Brass plans Q1 2025 relaunch as co-founders receive no compensation after Paystack-led acquisition
Brass is gearing up for a public relaunch this month after facing severe operational challenges. The company halted withdrawals by mid-2024, leading to an acquisition by Paystack.
"Companies are not sold; they're bought." Ventures Platform's Managing Partner on M&A activity in Africa
OmniRetail acquired Traction Apps to enhance its fintech capabilities. Ventures Platform facilitated the acquisition of Brass earlier in 2024.
