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Paystack Marks a 10-Year Milestone, Launches Parent Company The Stack Group
Paystack marks a 10-year milestone by launching parent company The Stack Group, a bold move that signals big plans for growth in Africa’s tech scene. The Nigerian fintech company, Paystack, has come a long way since starting out. It now celebrates its 10th anniversary with the establishment of Paystack parent company The Stack Group (TSG). This new structure helps manage its growing services, from online payments to apps and banking.
Paystack, bought by Stripe in 2020, announced this change to handle its wider range of products. These include the Zap app for consumer payments, Paystack Microfinance Bank for banking needs, and TSG Labs for new ideas. Shola Akinlade, the founder and CEO, will lead The Stack Group. Stripe, employees, and Akinlade are the founding shareholders. Paystack marks a 10-year milestone with this step, showing it is ready for bigger things.
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The shift matches Paystack’s huge growth. It began by helping businesses take card payments. Today, it serves over 300,000 businesses in five African countries. It has approvals in Egypt and Rwanda, covering nearly half of Africa’s GDP. Paystack parent company The Stack Group brings a bigger structure for bigger ambitions. The company is now profitable overall. This is a big win for African fintech firms that grow large over time, face different markets, products, and rules.
Akinlade shared his thoughts on the change. “This new structure allows us to build more products across different domains while staying focused on reliability and long-term impact,” he said. “We want to support African businesses not just with payments, but with the full set of tools they need to grow.” Paystack marks a 10-year milestone by launching parent company The Stack Group to make this possible. It reflects updates in leadership too. Ezra Olubi, the former co-founder and CTO, left in 2025 and is not among the new shareholders. This points to a fresh start.
For Paystack and its users, the new setup brings clear roles. Paystack will stick to merchant payments, the core of its business, including WordPress integrations for online stores. Zap handles consumer transactions, like everyday buys. Paystack Microfinance Bank focuses on banking services. TSG Labs explores new tech, such as stablecoins and artificial intelligence. Paystack parent company The Stack Group lets each part move faster. They share tools like infrastructure, compliance, and operations.
Users and developers won’t notice big changes right away. Their current products and links stay the same. But exciting updates are coming. With new licenses and profits, the company plans more financial services. It aims to build banking and other tools. Paystack marks a 10-year milestone and launches parent company The Stack Group to speed this up.
This move positions Paystack as a key player in Africa’s digital economy. It goes beyond payments to become a full fintech platform. The company wants to shape how money flows across the continent. From small shops to big firms, businesses get reliable tools to thrive. TSG Labs could bring innovations like AI-driven payments or stablecoins for steady value.
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Paystack’s story inspires other African tech firms. Starting in Nigeria, it grew despite challenges. Now profitable after 10 years, it proves long-term focus pays off. The Stack Group unites its parts under one roof. This helps tackle complex rules in places like Egypt and Rwanda.
As Africa’s economy booms digitally, Paystack is set to lead. Merchants enjoy smooth payments. Consumers use Zap for quick deals. Banks grow with microfinance options. Developers tap into strong APIs. Paystack parent company The Stack Group ensures all this works together seamlessly.
In the end, this anniversary marks not just age, but readiness for more. Paystack marks a 10-year milestone by launching parent company The Stack Group, paving the way for a stronger financial future in Africa.
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