IslamicFinance.de

Nigerian Fintech company Paystack has received an investment of $8 Million from Stripe, Visa, Y Combinator and Tencent. Over the last three years, Fintechs in the country have received funding, and that has increased steadily. Including Flutterwave’s $10 Million there was roughly $100 Million deployed into Fintechs. SureRemit, another Fintech raised $7 Million in an ICO this year. Over the last couple of years, more Nigerian Fintechs are being chosen for Y Combinator. All this activity and traction is also suitably backed by ecosystem players, policy makers and regulators. The rationale behind the investment from the Visa, Stripe and Tencent into Paystack is to help their expansion within Nigeria and to bring financial services to people who have so far been denied the opportunity.