Thursday, July 3, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home News Africa News

Nigerian Fintech, Oyapay Shuts Down

Tech Gist Africa by Tech Gist Africa
02/20/2019
in Africa News, News, Startups
0 0
0
Nigerian Fintech, Oyapay Shuts Down
0
SHARES
Share on FacebookShare on Twitter

One of Nigeria’s promising startup fintech, OyaPay shut down its operations last week. It was first launched on December 1st, 2017 and had a very interesting approach to the problems in the Nigerian financial tech landscape.

The startup, which was less than a year old, was trying to ensure that offline businesses can accept payment and take forward orders from their customers with or without a smartphone.

The CEO, Abdulhamid Hassan and two other co-founders joined the likes of Paystack, Flutterwave and Paga to emerge as leaders of the Nigerian fintech space. Hassan, in a conversation with Techpoint explained that the decision to shut down OyaPay was not informed by issues around the product or the market.


See also: Africa Fintech Foundry calls for $10,000 Pitch Submission


“When I moved back to Nigeria from France in January 2018, I had a goal in mind to not raise external capital until we’d attained market fit and by so doing not hustling to get investor money. Instead, it would be on a neutral ground where we all (OyaPay and participating investors) need each other,” explained Hassan.  

Hassan revealed that his relative (uncle) pushed back from investing into OyaPay at the point of product market fit. Complications arose from the initial seed funding from his uncle and most of the issues that led to its shut down had to do with funding.

Prior to the interview, it was rumored that Paystack had acquired the asset and liabilities of OyaPay. Paystack debunked the rumor but stated that some members of OyaPay have now joined Paystack.

“We think extremely highly of the crew because they are some of the best operators in fintech we’ve encountered and we are lucky to have some of them joining the Paystack family. But it is incorrect to say Paystack acquired OyaPay,” states an excerpt from an email by Paystack.

More on TechGist Africa

  • Togo launches Fintech Project for Youths on Lome Street, Spotify Plans Big, Accquires Gimlet And Anchor and More
  • Nigerian Based Startup, CcHUB Expands to Rwanda
  • Nigerian Startup, I-invest, generates up to 2 Billion Naira in 6 Months
  • Rapiddeploy Receives 12 million USD from Samsung Next and Great Point Ventures, Publiseer wins Startup World Cup Nigeria Finals and More
  • Publiseer wins Startup World Cup Nigeria Finals
ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a leading online technology and digital media outlet, dedicated to providing latest tech news, product launch, startup news across Africa and sharing simple social media and digital marketing tips for startups, entrepreneurs and business owners.

Related Posts

Apple WWDC 2025
Events

Apple Unveils iOS 26, macOS Tahoe, and AI Innovations at WWDC 2025

by Tech Gist Africa
06/15/2025
0

Apple kicked off its annual Worldwide Developers Conference (WWDC) with a series of announcements highlighting significant advancements in software design...

Read more
Zero Carbon Charge South Africa

Zero Carbon Charge, a South African startup secures US$5.6 Million investment

06/15/2025
Kera Senegal

KERA, a Senegalese E-Health Startup Secures $10 Million Funding

06/15/2025
Nile South Africa

Nile, a South African Agri-Tech Startup Secures $11.3 Million in a funding round

06/15/2025
DHL Group

DHL Group to Invest $575 Million in Healthcare and Logistics Expansion Across Africa and the Middle East

06/15/2025
Next Post
Pesapal Integrates Samsung Pay, Apple Pay, FitBit Pay & Google Pay in Sabi M010 Terminal

Pesapal Integrates Samsung Pay, Apple Pay, FitBit Pay & Google Pay in Sabi M010 Terminal

Inspire launches STEAM program for South African Schools

Inspire launches STEAM program for South African Schools

Amazon Launches PayCode in Kenya, Telecoming, Ubongo Partner and More

Amazon Launches PayCode in Kenya, Telecoming, Ubongo Partner and More

No Result
View All Result

The Big 5

Blockchain

The Role of Blockchain in Enhancing Africa’s Financial Systems and Security

by Tech Gist Africa
06/30/2025
0

...

Artificial Intelligence

How Artificial Intelligence is Transforming Industries Across Africa

by Tech Gist Africa
06/23/2025
0

...

Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

by Tech Gist Africa
06/15/2025
0

...

Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

by Tech Gist Africa
06/15/2025
0

...

Telegram Grok

Telegram Scores $300 Million xAI Deal to Integrate Grok Across One Billion Users

by Tech Gist Africa
06/15/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.