Paystack’s Akinlade puts business infrastructure at centre of next growth phase

Paystack, the Nigerian fintech company, is expanding its focus beyond just payment acceptance as it enters its second decade, according to co-founder and CEO Shola Akinlade. Speaking at Moonshot 2026 in Lagos, Akinlade explained that the company's payments infrastructure has supported businesses across various sectors, and the next phase will leverage this foundation to empower entrepreneurs to concentrate on their products.

The company has evolved from assisting Nigerian merchants with online payments to becoming a broader financial services group operating in multiple African markets. Akinlade highlighted the success of PiggyVest, a Nigerian savings platform, as an example of how Paystack's infrastructure can support ventures beyond its original goals.

The founders approached Paystack with the idea of automatic savings debits, and without having to build a savings business, the company focused on developing its infrastructure. Akinlade noted the broader influence of infrastructure businesses, citing examples of former employees who went on to establish successful companies like Selar, Chowdeck, and Mono.

He emphasized that ambition is contagious, and when an ambition is achieved, it continues to spread among those engaged with the original vision. Amandine Lobelle, Paystack's COO, discussed the company's geographical expansion, including operations in Ghana, Kenya, Côte d'Ivoire, South Africa, and securing regulatory licenses for Egypt and Rwanda.

As Paystack broadens its corporate structure, with the launch of The Stack Group, Akinlade stated that the company is broadening its perspective on the problems it can solve as customer needs extend beyond payment collection.