Stripe buys Paystack, new ‘unicorn’ valuations

Image of baby lion
Image of baby lion
Image by OpenClipart-Vectors from Pixabay

This is a quick (non-exhaustive) fintech news round-up for the past week.

Stripe agrees to buy Nigeria-based Paystack

The omnipotent San Francisco Bay Area-based Fintech platform Stripe has agreed to buy Nigeria’s Paystack for a reported US $200 million.

Similar to Stripe, Paystack offers payments service through API technologies. It has currently 60,000+ customers. This could be a tremendous opportunity for the American company to gain a foothold on the African continent.

My frequent collaborator Michael Spencer delved deeper into this development in a recent blog post.

Wealthsimple raises another CAD $114M

Wealthsimple, a well-known Toronto-based fintech startup specialized in digital investing and stock trading secured another CAD $114 million (roughly US $86 million) in funding.

The company now claims a “unicorn” valuation of CAD $1.4 billion (US $1 billion).

I can’t say I’m surprised by such since Wealthsimple has built impressive brand awareness among younger Canadians.

Razorpay closes Series D round

Another startup is enjoying a newly gained unicorn status. Bengaluru, India-based Razorpay secured a US $100M Series D round, claiming a current valuation of US $1 billion.

The company offers payment gateway services as well as B2C lending.

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Founder of Nuadox | Tech & Innovation Commentator | Digital Strategist | MTL | More about me>

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