Paystack Reorganizes as It Expands Beyond Payments

LAGOS, Nigeria, Jan. 20, 2026 — Nigerian fintech Paystack has created a new holding company called The Stack Group, reorganizing its operations to expand beyond merchant payments. This comes as the company celebrates its 10th anniversary and reports profitability across all its markets.

The company, acquired by Stripe in 2020, has grown beyond Nigeria, operating in Ghana, Kenya, Côte d’Ivoire, and South Africa. Over the years, Paystack has built a significant merchant base and developed a consumer app, Zap, to offer payments and transfers directly to individual users.

The new holding company brings these businesses together alongside Paystack Microfinance Bank and a product and research division called TSG Labs. The structure is designed to allow each unit to focus on its specific operations while benefiting from shared ownership and strategic guidance.

A New Umbrella Structure

The Stack Group oversees several previously separate units, allowing them to operate independently under one corporate umbrella. This enables each business to maintain its governance, licensing, and compliance structures while aligning with long-term company goals.

Shareholders and Leadership: The agreements to form the holding company were signed in October 2025 and are subject to regulatory approval. Stripe remains a shareholder, alongside co-founder and CEO Shola Akinlade and a group of Paystack employees who now hold equity in the parent company. Akinlade has also made a personal investment, signaling his ongoing commitment to the business.

Independent Operations: Under the new structure, Paystack’s payments business, the consumer app Zap, and Paystack Microfinance Bank can develop services on parallel tracks. Each unit maintains autonomy for product development and regulatory compliance while benefiting from strategic oversight at the group level. This separation allows for innovation within each unit without interfering with the operations of the others.

Expansion into Banking and Consumer Services

Earlier this year, Paystack acquired Ladder Microfinance Bank, forming Paystack Microfinance Bank. The license allows the company to accept deposits and extend loans directly to customers, moving beyond reliance on external partners. The microfinance bank will initially focus on business clients, with consumer offerings expected later.

Zap continues to serve consumers with payments and transfers. TSG Labs will focus on developing new products, exploring opportunities in technology and financial services that align with the group’s capabilities.

Strategic Objectives

The restructuring reflects Paystack’s response to growing demand for services beyond payment processing. The company handles transactions for over 300,000 merchants, many of whom have requested access to credit and other financial products. The microfinance bank allows Paystack to provide working capital loans, overdrafts, and banking-as-a-service solutions directly under a licensed framework.

Payment processing remains a core function, and existing partnerships with commercial banks for settlement continue as before. The separation into distinct units allows each business to focus on its specialized services without operational conflict.

Regulatory Path and Outlook

Full operations of The Stack Group depend on approvals from financial regulators across its markets. Once granted, both Paystack Microfinance Bank and Zap will scale customer onboarding under the group structure.

This reorganization positions Paystack to grow beyond payments while maintaining the stability and reliability that have defined its first decade. By creating a structure that accommodates multiple financial services under one parent, the company sets the stage for measured, regulated expansion across Africa.