Industry leaders in Nigerian fintech Paystack, Ventures Platform, and Piggyvest have come together to acquire the promising startup Brass.
Brass, a Nigerian fintech startup known for its innovative solutions in the payments space, caught the attention of these established players due to its unique approach to financial services. With a focus on providing seamless payment experiences for businesses and individuals, Brass has quickly gained traction in the market.
Other consortium members include PiggyVest, Ventures Platform, P1 Ventures, and angel investors OO Nwoye and Olumide Soyombo. Both Ventures Platform and Flutterwave’s CEO, Olugbenga Agboola, are existing investors in the company.
The acquisition deal represents a significant milestone for both Brass and its new owners. Paystack, a leading online payments platform in Nigeria, brings its extensive expertise in payment processing and technology infrastructure to the table. Ventures Platform, a prominent early-stage venture capital firm, adds its experience in supporting and scaling startups in the Nigerian tech ecosystem. Piggyvest, a popular savings and investment platform, contributes its insights into consumer behavior and financial products.
Together, these companies aim to leverage their collective strengths to further enhance Brass’s offerings and accelerate its growth trajectory. By combining resources, technology, and market knowledge, they intend to solidify Brass’s position as a key player in the Nigerian fintech landscape.
Speaking about the acquisition, the leadership teams of Paystack, Ventures Platform, and Piggyvest expressed their enthusiasm for the collaboration and their belief in Brass’s potential. They highlighted the importance of fostering innovation and driving financial inclusion in Nigeria, and they see Brass as an instrumental partner in achieving these goals.
For Brass, joining forces with these industry giants opens up new opportunities for product development, market expansion, and customer acquisition. The startup’s existing user base can expect to benefit from enhanced features, improved services, and a broader range of financial solutions.
With the backing of Paystack, Ventures Platform, and Piggyvest, Brass is well-positioned to capitalize on the vast opportunities in Nigeria’s dynamic fintech market and make a lasting impact on the future of financial services in the region.
