In January, I said this is the Year of the Unicorns and in spite of the unforeseen circumstances and unfortunate tragedies of the COVID-19 pandemic, my prediction has come to pass with the emergence of new Unicorns from Silicon Valley to Crypto Valley. And the acquisitions of fintech startups extended to Nigeria where Paystack was acquired by Stripe for US$200 million which is the biggest fintech acquisition in Nigeria after Visa invested US$200 million in Interswitch last year, 2019.
To me PayStack is already a Unicorn, because it is worth over US$1billion.
Paystack is backed by Visa and Tencent which owns Chinese superapp, WeChat. Equally,
I also found out that Visa and Mastercard have invested in Flutterwave. Flutterwave has also secured an important partnership with Alipay. That makes it a potential Unicorn.
What I am more focused on is to see a Nigerian Unicorn in the social network and video streaming sector within four years. And that has seen me investing my incomes in the development of such tech startups and left me flat broke.
But I am very optimistic that the first one will be rolling out soon. And the prospects are bright.
- Ekenyerengozi Michael Chima,
The CEO,
International Digital Post Network Limited
Publisher/Editor,
NOLLYWOOD MIRROR®Series
247 Nigeria (@247nigeria) / Twitter
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