Paystack acquires Allawee

● STRATEGIC | FINTECH · Payments

AUGUST 31, 2026

Paystack (Stripe) acquires Allawee

TARGET

Card-issuing infrastructure enabling Nigerian fintechs and banks to launch and manage Visa, Mastercard, and Verve card programmes via a no-code dashboard and API.

Ownership	VC-backed · Voltron Capital, ODX, Rally Cap Ventures, Piggy Tech
Capital raised	$300K
Headcount	11-50 FTEs
Headquarters	Lagos, Nigeria
Leadership	Ikenna Enenwali, co-founder and CEO Oreofe Olurin, Co-founder & CTO
Sell-side advisor	—

ACQUIRER

Paystack

Nigeria's largest payments processor, offering merchant payment processing, consumer money transfer, and microfinance banking across Africa

Ownership	Subsidiary · Stripe (parent); Stripe, Visa, Y Combinator, Tencent, Comcast Ventures, Ventures Platform +1 more
Capital raised	$11.7M
Headcount	51-200 FTEs
Headquarters	Lagos, Nigeria
Leadership	Shola Akinlade, Co-founder and CEO
Buy-side advisor	—

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Paystack -> Allawee  (2026-09-18)
strategic_acquisition | FinTech | closed
Target: Card-issuing infrastructure enabling Nigerian fintechs and banks to launch and manage Visa, Mastercard, and Verve card programmes via a no-code dashboard and API.
Website: allawee.com | Buyer site: paystack.com
HQ: Lagos, Nigeria | Ownership: vc-backed | Buyer sponsor: Stripe | Buyer ownership: subsidiary
Advisors - not yet credited
Source: Thematic - https://thematichq.com/software/d/paystack-allawee.html

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