Nigerian Fintech startup, Paystack, just announced that it has hit 1 billion Naira ($3.2 million) in monthly transaction volume. The news was tweeted by Co-founder and CTO, Ezra Olubi.
https://twitter.com/0x/status/889953350422216704
The transaction that got the company to the ₦1 billion/month milestone was a payment of ₦6,000 made in Ikoyi using a Mastercard Debit Card, issued by GT Bank.
The company said the reason it was sharing its numbers publicly was to celebrate its wins (both big and small) and to encourage a culture of greater transparency and mutual accountability within the Nigerian startup community. As per transparency, the company said it was inspired by the example of the folks at Buffer, whose CEO routinely shares detailed revenue numbers publicly.
“We believe strongly that for African businesses to become the global behemoths we aspire to be, we need to set aside the culture of intense secrecy and share what we’re learning and how we’re doing.”
Here is a timeline to show the road to ₦1 billion/month transaction volume
The company says its next big milestone is ₦10 billion.
In December 2016, Paystack secured $1.3M Seed investment from both international and homegrown investors including Tencent, Comcast Ventures and Singularity Investments
5 Comments
Wow! Big Congratulation to Paystack company on the N1m. By God’s Grace you will hit N10m soon. This is awesome.
Wow! Big Congratulation to Paystack company on the N1b. By God’s Grace you will hit N10b soon. This is awesome.
This is a milestone achievement worthy of celebration. Paystack is going places! Well done guys. Keep up the good job you doing.
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Big congratulations to Paystack for reaching the 1 billion naira milestone. 10 billion naira is possible!