In October 2020, global payments company Stripe acquired Paystack to accelerate commerce across Africa.
Stripe is a technology company that builds economic infrastructure for the internet. Companies of all sizes - including Amazon, Google, Shopify, and Zoom - use Stripe's software to accept payments and scale their online businesses. Each year, more than 80% of American adults complete a purchase using Stripe.
This acquisition was the culmination of several years of close partnership between Stripe and Paystack. Both companies are alums of the Y Combinator accelerator program, and Stripe led our Series A round of funding in 2018.
We also share a strong cultural DNA. We value voracious curiosity and transparency, we're inspired by hard challenges, and we're profoundly optimistic about the future.
As we continued to work with and learn from each other, we realized that we could accomplish a lot more, faster, by joining forces. Stripe's mission is to increase the GDP of the internet, and Paystack spearheads this effort in Africa.