How Nigerian billionaire Tunde Folawiyo's firm got into Paystack and Flutterwave early
Nigerian billionaire Tunde Folawiyo chairs Pave Investments, which backed Paystack and Flutterwave when they were worth a few million dollars and exited both.
Paystack
Paystack quietly acquired Nigerian fintech Allawee and is now shutting it down to build something bigger
Paystack has quietly absorbed Nigerian card-issuing fintech Allawee after an undisclosed 2025 acquisition, closing all customer accounts by December 1 as Nigeria's largest payments processor assembles a full financial services empire through acquisitions.
Nigerian software engineer Shola Akinlade's Paystack reorganizes under holding firm after profitability
Paystack restructures under The Stack Group after turning profitable, uniting payments, banking and new ventures under a holding company.
Nigerian software engineer Shola Akinlade’s Paystack moves into banking
Paystack, co-founded by Shola Akinlade, acquires Ladder Microfinance to offer SME loans and digital banking in Nigeria.
Paystack fires Nigerian co-founder Ezra Olubi amid sexual misconduct allegations
Paystack fires co-founder Ezra Olubi over sexual misconduct allegations as the company faces scrutiny on workplace governance.
Paystack suspends Nigerian co-founder Ezra Olubi as misconduct review grows
Paystack suspends Ezra Olubi as allegations of misconduct emerge, prompting a formal investigation by the company.
Nigeria’s central bank fines Paystack, co-founded by Shola Akinlade
CBN fines Paystack N250 million ($0.19 million) for allegedly running a wallet service via its Zap app, breaching its switching and processing license.
Nigerian tech entrepreneur Shola Akinlade buys European football club one year after launching club in Lagos
Akinlade is now the majority owner of Aarhus Fremad.
Nigerian tech entrepreneur, Paystack Co-Founder Shola Akinlade establishes football club in Lagos
Sporting Lagos Football Club is an attempt to nurture the next generation of Nigerian sporting talent.
Nigerian multimillion-dollar startup Paystack launches in South Africa
After a six-month pilot program, Nigerian payments platform Paystack has launched operations in South Africa.