The strategic shift is underpinned by several factors shaping Paystack’s next phase, including rapid advances in technologies such as artificial intelligence and stablecoins, the acquisition of key regulatory licenses, and growing opportunities to support African businesses beyond payments.
Paystack has marked its 10th anniversary with the launch of a new parent company, The Stack Group (TSG), signaling the start of a broader ambition that extends beyond payments into banking, consumer finance, and emerging technologies.
Founded a decade ago to help African businesses get paid, Paystack has grown into one of the continent’s leading payment platforms, serving over 300,000 businesses across Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa, with regulatory approvals secured for Egypt and Rwanda. These markets together represent nearly half of Africa’s GDP. Since its acquisition by global payments company Stripe in 2020, Paystack’s total payment volume has increased more than twelvefold.
As it enters its second decade, the company announced it has achieved group-level profitability, a significant milestone for a technology company operating at scale across multiple African markets. The profitability milestone reflects sustained growth, operational maturity, and increased adoption of digital payments by businesses across the continent.
To support its expanded vision, Paystack has restructured under The Stack Group, a new holding company designed to nurture multiple brands operating across different financial and technology domains. Under the new structure, Paystack will continue to focus on merchant payments, while Zap will address consumer payments. Paystack Microfinance Bank will drive innovation in banking services, and TSG Labs will explore emerging technologies and develop new products both within and beyond financial services.
The creation of The Stack Group introduces a new ownership structure, subject to regulatory approvals. The group will have three founding shareholders: Stripe, Paystack’s founder and CEO Shola Akinlade, and Paystack employees. Akinlade will continue to lead the group and is making a personal investment to underscore his long-term commitment to the business.
The strategic shift is underpinned by several factors shaping Paystack’s next phase, including rapid advances in technologies such as artificial intelligence and stablecoins, the acquisition of key regulatory licenses, and growing opportunities to support African businesses beyond payments. Paystack has already secured a microfinance banking license in Nigeria and is in the process of finalizing a stablecoin license in a key market.
With Africa poised for a generational economic and technological shift, The Stack Group aims to build a family of companies that power ambition across the continent. The group’s expanded mandate reflects Paystack’s belief that technology will play a central role in unlocking new opportunities for businesses and consumers across Africa in the decade ahead.
