Speaking with Shola Akinlade, the cofounder of one of Nigeria’s most successful tech businesses Paystack, he revealed a lot about himself and how he managed to build a business that has steadily made a name for itself across Nigeria.
Shola was interviewed by American seed accelerator, Y Combinator few days ago. The young entrepreneur started the discussion by revealing a little about his life growing up.
I want to share with you five notable things Shola said during the 55-minutes conversation with Craig Cannon. Let’s go.
1. He studied computer science in Lagos state, Nigeria and got a job at Heineken. At Heineken, he wasn’t coding. He worked as a management trainee at the beer factory for two years.
2. The tech entrepreneur initially cofounded Precurio, an opensource collaboration software for businesses in emerging markets. Precurio still exists on SourceForge and currently has over 200,000 companies using it.
3. Shola’s Paystack is the first Nigerian company to get into Y Combinator after applying for it a couple of times. Shola adds that the Y Combinator was transformative in helping his business focus on the problem it was trying to solve in Africa’s payment system.
4. Paystack is now in Ghana and plans to go across Africa someday.
5. In Nigeria, the startup is already processing about 15% of online transactions in two years of its existence.