Paystack is marking its 10th anniversary with a massive structural shift, evolving from a payment processor into The Stack Group (TSG)—a multi-brand holding company.
Why it matters
The move signals a transition from a single-product startup to a diversified tech conglomerate, backed by global giant Stripe and a newly minted status of group-level profitability.
Driving the News
The launch of TSG follows a period of hyper-growth. Since being acquired by Stripe in 2020, Paystack has seen a 12x increase in payment volume.
The new structure (pending final regulatory approval) includes:
- Paystack: The core merchant payments engine.
- Paystack MFB: A standalone microfinance bank providing credit and banking infrastructure.
- Zap: A consumer-facing payment brand.
- TSG Labs: A venture studio and incubator designed to build products “beyond fintech,” specifically eyeing AI-led offerings.
By the Numbers
- 10: Years since Paystack’s founding (January 2016).
- 12x: Payment volume growth since the Stripe acquisition.
- 46%: The portion of Africa’s GDP covered by the markets where Paystack is licensed or operational (including Nigeria, South Africa, Egypt, and Kenya).
- 300,000+: Nigerian merchants currently using the platform.
Between the Lines
This isn’t just about payments anymore. By launching TSG Labs, the group is pivoting toward a broader “venture builder” model.
- The AI play: By mentioning AI-led offerings outside of finance, TSG is positioning itself as a talent magnet for Africa’s broader tech ecosystem, not just the fintech sector.
- Operational Independence: While united under the TSG umbrella and shared values, each brand will operate independently, allowing for faster experimentation without risking the core payment rails.
What They’re Saying
“The launch of TSG signals a larger scope of ambition for us and sets the tone for the next decade… there are significant opportunities to support businesses beyond payments.” — Shola Akinlade, TSG Founder and CEO.
