Africa’s tech ecosystem is speedily moving from nascent to growth stage and is currently minting the next generation of founders that will solve some of the continent’s biggest problems. African founders who relied on external funding to start their business five years ago are now investing in a new generation of local founders. The ecosystem is experiencing a multiplication of success in terms of innovation and investment. And one such scenario that caught our eye is the “club” of successful founders affiliated with the Nigerian fintech company, Paystack.
We discovered that a number of startup founders scoring millions of dollars in valuation and dominating headlines in the tech world are alumni of the fintech company, founded by Ezra Olubi and Shola Akinlade in 2015 and acquired by US payment giant, Stripe, for $200 million in 2020.
Members of this club of former Paystack employees have either established startups solving hard problems on the continent or are leading the charge in startups that are doing so successfully. Along the way, they have built solutions that serve thousands of customers, gotten accepted into renowned international accelerators, or raised millions of dollars in funding from local and international investors, making a name for themselves at home and abroad.
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