Paystack Launches The Stack Group as Parent Company
Paystack’s restructure into The Stack Group (TSG) comes after the payment gateway reaches group profitability.
Anonymous
Paystack Launches The Stack Group as Parent Company
It's Paystack's 10th anniversary , and the company has used the medium to launch an organisational restructure that transformed the company from a single fintech product into a multi-brand technology group called The Stack Group (TSG) . This restructuring comes as the company achieved group-wide profitability. Reaching group profitability gave Paystack the confidence and financial flexibility to restructure and expand beyond its domains. This success is unusual for large fintech firms operating at Paystack’s scale. The company could make this change because it's stable financially and generating surplus. Paystack was founded in 2016 as a cheaper alternative for Nigerian businesses to accept online payments. After getting support from Y Combinator, the world’s largest startup accelerator, it became one of the most successful African startups. Then, it was acquired by Stripe in 2020 for $200 million. Since then, Paystack has expanded across multiple African markets and grown pay…
