Paystack has announced the launch of The Stack Group (TSG), a parent holding company that will aggregate the tech-focused family of brands connected with Paystack.
TSG founding shareholders include Stripe, Shola Akinlade (founder and CEO of Paystack), and existing Paystack employees.
The agreements establishing TSG as the parent holding company were signed in October 2025, and are subject to the requisite regulatory approvals.
Since its acquisition by Stripe in 2020, Paystack has grown its payment volume by 12-times and is licensed and operational in Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa, with regulatory approvals for Egypt and Rwanda, representing about 46% of Africa’s GDP.
Paystack MFB recently launched in Nigeria. Functioning as a standalone bank, Paystack MFB allows the group to internalise core financial rails and provide the banking and credit infrastructure required by over 300 000 Nigerian merchants. These capabilities enable the development of elegant, compliant, and much-needed end-to-end money-movement solutions and will continue to power the company’s mission of building technology solutions for Africa, to power African ambition.
Providing a corporate umbrella for a family of complementary brands that innovate in different domains, TSG companies will be united by shared values and deep knowledge of building technology products to solve Africa-specific challenges, while remaining operationally independent.
At the outset, TSG will include:
- Paystack – for merchant payments;
- Zap – for consumer payments;
- Paystack Microfinance Bank – for banking; and
- TSG Labs – for emerging technologies and building new products both within and beyond financial technology.
Shola Akinlade, CEO and Paystack founder, says: “The launch of TSG signals a larger scope of ambition for us and sets the tone for the next decade of our company. Having worked with thousands of companies across the continent since 2016, it is clear that there are significant opportunities to support businesses beyond payments, and TSG enables us to address the challenges African companies face.
“Thank you to the Stripe team for their continued belief in Africa’s potential, and our ability to create transformative technology companies for the continent, and beyond.”