Techbytes: Paystack launches the stack group to expand beyond payments (Tech point Africa)

Paystack has unveiled a holding company, The Stack Group (TSG), signaling its push into banking, consumer finance, and AI-driven product development.

In a statement to Techpoint Africa, Paystack said the formation of TSG marks a milestone as the company becomes profitable.

The holding company will oversee a cluster of independent but complementary ventures: Paystack, Paystack Microfinance Bank, Zap (a consumer payments product), and TSG Labs, the venture studio focused on building products inside and outside financial services.

Agreements establishing TSG were signed in October 2025 and are awaiting regulatory approvals.

The launch coincides with Paystack’s 10th anniversary and marks a shift from a payments processor to a broader technology and financial-infrastructure builder for African businesses.

Since its 2020 acquisition by Stripe, Paystack reports more than a 12-fold increase in payment volume.

The company operates in Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa, with regulatory approvals in progress for Egypt and Rwanda—markets that together account for about 46% of Africa’s GDP.

Founding shareholders of TSG include Stripe, Paystack founder and Chief Executive Officer Shola Akinlade, and existing Paystack employees.

Stripe remains a shareholder following its $200 million acquisition of Paystack in 2020, underscoring its long-term commitment.

Akinlade said the creation of TSG reflects Paystack’s broader ambitions.

“There are significant opportunities to support businesses beyond payments, and TSG enables us to address the challenges African companies will face over the next decade,’” he noted.

With TSG, Paystack positions itself as a technology group—not just a payments company—betting on banking, consumer finance, and AI as its next engines of growth.

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