Wednesday, June 12, 2024
21.9 C
New York

Stripe’s Paystack leads investor group set to acquire Nigerian fintech start-up Brass

  • Acquisition Announcement:
    • Brass, a Nigerian fintech, is set to be acquired by an investor group led by Paystack.
    • Paystack is owned by US payments firm Stripe, acquired nearly four years ago for $200 million.
  • Investor Group:
    • The deal includes participation from PiggyVest, Ventures Platform, P1 Ventures, and angel investors Oo Nwoye and Olumide Soyombo.
  • Brass Overview:
    • Founded in 2020 in Lagos, Nigeria.
    • Provides current account services and commerce tools for small and medium-sized businesses (SMBs).
    • Offers services like capital financing and payroll management through its Launchpad interface.
  • Growth and Importance:
    • CEO Sola Akindolu highlights Brass’s significant growth and its vital role in Nigeria’s SMB economy.
  • Leadership Changes:
    • Founding leadership team members, including CEO Sola Akindolu, CTO Emmanuel Okeke, and product head Tolulope Saba, plan to leave post-acquisition to pursue other opportunities.
    • Brass will continue to support customers and grow under a new leadership team.

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

What is Fintech?

Fintech: A term used to refer to innovations in...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...

U.S. Bank taps Greenlight for family-focused money management tools

U.S. Bank Partners with Greenlight to Enhance Financial Literacy...

Finseta offloads non-trading subsidiary Capital Currencies to undisclosed buyer for £150,000

Summary of Finseta's Sale of Capital Currencies:Transaction Overview:...

Peru becomes first South American country to adopt NPCI’s UPI tech

Summary of BCRP and NPCI International Partnership:Partnership Overview:...

Beobank selects Viva to power new corporate payment solutions for SMEs in Belgium

Beobank and Viva Partnership - Key Points:Partnership Objective:...

Siri and Google Assistant look to generative AI for a new lease on life

There’s a lot riding on next week’s WWDC 2024...

Centenary Bank embarks on tech overhaul with Oracle Flexcube core banking system

Centenary Bank Technology Transformation - Key Points:Bank Overview:...

Related Articles

Popular Categories