Hi all, Julie here, on a Thursday. Hope everyone is hanging in there! Seems like an extremely stressful week with the election so close and everyone on edge. Be kind to yourselves and others in these times especially.
Last week, I sat down with Matt Henderson, Head of EMEA at Stripe, to talk about the firm's recent acquisition of Nigeria based startup Paystack. Watch the full interview below:
While the deal terms weren’t disclosed, Henderson said this was the firm’s biggest acquisition to date. Two big reasons behind the deal?
Stripe is extremely bullish on Africa.
Paystack has seen massive growth since its launch 5 years ago (it already accounts for half or more of the internet transactions in Nigeria).
Henderson said Stripe felt that it was better to make the acquisition than try to build themselves thanks to the incredible traction Paystack has received, though we shouldn’t expect this to be Stripe’s playbook going forward, saying “I think the default mode will continue to be organic.”
Listen to the full interview here, and feel free to ping me on Twitter or the Fintech Today community forum with your thoughts! And don’t forget to subscribe to FTT+ to read my weekly Sunday newsletter.
