The deal underscores two interesting points about Stripe, now valued at $36b and regularly tipped as an IPO candidate. First is how it is doubling down on geographic expansion and second is how Stripe is putting a bet on the emerging markets of Africa specifically in the future of its own growth.
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Stripe acquires Nigeria’s Paystack for $200m+ to expand into the African continent
“There is enormous opportunity,” said Patrick Collison, Stripe’s co-founder and CEO, in an interview with TechCrunch. “In absolute numbers, Africa may be smaller right now than other regions, but online commerce will grow about 30% every year. And even with wider global declines, online shoppers are growing twice as fast. Stripe thinks on a longer time horizon than others because we are an infrastructure company. We are thinking of what the world will look like in 2040-2050.”
