Paystack has achieved group-level profitability and announced the creation of a new parent company, The Stack Group, a major strategic shift as the fintech firm enters its second decade of operations.
The announcement was made by Shola Akinlade, Chief Executive Officer of Paystack, as the company marked its 10th anniversary.
Paystack was founded with the goal of helping African businesses accept payments and has since expanded operations across Nigeria, Ghana, Kenya, South Africa, and Côte d’Ivoire, with regulatory approvals already secured in Egypt and Rwanda.
The company’s operating markets now account for 46 percent of Africa’s GDP.
Paystack was acquired by Stripe in 2020. Since the acquisition, the company said its total payment volume has grown more than twelvefold, underscoring the scale of expansion achieved under Stripe’s ownership.
The move to group profitability places Paystack among a small number of African technology companies operating at scale with sustainable earnings.
As part of its long-term strategy, Paystack said it is restructuring into The Stack Group, which will serve as a holding company overseeing a portfolio of technology-driven businesses across multiple financial and emerging technology verticals.
Under the new structure:
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Paystack will continue to focus on merchant payments
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Zap will operate in consumer payments
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Paystack Microfinance Bank will drive innovation in banking services
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TSG Labs will focus on emerging technologies, including building products within and beyond financial technology
The restructuring also introduces a new ownership structure, subject to regulatory approvals. The Stack Group will have three founding shareholders: Stripe, Shola Akinlade, and Paystack employees.
Akinlade will continue to lead the group and confirmed he is making a personal capital investment in the business, reinforcing his long-term commitment.
Paystack said the move positions the group to take advantage of accelerating technological shifts, including artificial intelligence and stablecoins, while leveraging recently acquired regulatory licences.
The company disclosed that it has obtained a microfinance bank licence in Nigeria and is finalising a stablecoin licence in a key market, pending approvals.
Beyond payments, the group said it sees significant opportunities to support African businesses with broader financial and operational tools as economic complexity increases across the continent.
With profitability achieved and regulatory capabilities expanding, Paystack believes the new structure will allow it to deliver end-to-end, compliant money movement solutions at scale.
The company described Africa as being at the beginning of a generational economic shift and positioned The Stack Group as a platform to support that transition by building technology-enabled businesses across multiple sectors.
For investors and the broader technology ecosystem, Paystack’s profitability milestone and restructuring signal a maturing African fintech sector, where scale, regulation, and sustainable earnings are increasingly aligning.
