Paystack has acquired Ladder Microfinance Bank, marking its entry into banking services in Nigeria.
In a statement via email on Thursday, the company confirmed that “Ladder Microfinance Bank was acquired by Paystack”.
Following the acquisition, the financial technology (fintech) company launched Paystack Microfinance Bank to expand its financial services offerings
In another statement on Wednesday, the firm said the bank will operate independently as a sister company to Paystack Payments Limited, with its own license, roadmap, and governance structure.
“We work closely, but each company is focused on its respective mission,” the firm said.
The fintech company said Paystack was founded in Nigeria 10 years ago with a mission to simplify payments for businesses and has since grown into a pan-African platform operating in five countries.
According to the company, its systems process trillions of naira every month, supporting about 300,000 businesses and millions of buyers in Nigeria, revealing that payments are only one part of a broader financial journey.
“Businesses don’t just need to get paid. They need a financial operating system,” Paystack said.
“One that helps them store money safely, move it easily, understand it clearly, and grow with confidence.
“Individuals want financial tools that help them grow, protect, and use their money confidently as their lives and ambitions evolve.
“And developers want infrastructure that allows them to build elegant solutions on reliable platforms, quickly, securely, and compliantly.
A challenge this large deserves a dedicated team of problem solvers. That’s why we’re starting a new company to pursue it, called Paystack Microfinance Bank.”
Paystack added that it is applying its core principles of reliability, simplicity, transparency, and trust to the new venture, starting with a small group of users before gradually expanding access.
