Nigeria is fast becoming a home for innovative Financial Tech companies looking to ease the way businesses are done online and these two are arguably leading the race.
Flutterwave is a platform that provides the underlying technology avenue that allows businesses to make and accept payments anywhere in Africa. They have their headquarters in San Francisco with offices in Lagos, Nairobi, Accra, and Johannesburg. The company recently raised over $10 million in a series A funding round. It also worthy of note that Flutterwave was co-founded by Iyin Aboyeji, who has a track record, and star power, as a co-founder of developer training company, Andela. Flutterwave has processed $1.2 billion in payments across 10 million transactions.
Paystack, a 20-month old Lagos-based payments company, headed by another Nigerian, Shola Akinlade, processed $3 million last month alone—as much as it did throughout 2016. FinTech companies are solving a real market need across the continent, the world is now connected by waves and wire (thanks to mobile phone and the internet) and anything that can help business connectivity is simply a blessing. Financial services are the lifeblood of any thriving economy, not just for the middle or upper-class but particularly to low-income earners.
E-ecommerce is leading the way, so Fin-Tech companies are here to stay, and these two companies are leading the way. Flutterwave is reliable and has years of success and excellent customer delivery under its belt, it also works with just another card company, both nationally and locally. PayStack is as futuristic as it gets, they are relatively new but seeing how much traction they have already garnered they are on the road to rival Flutterwave in what is already a building contention.
Flutterwave vs. PayStack, who would you trust?