Shola Akinlade

Shola Akinlade OON
Born
Lagos, Nigeria
Education
OccupationsSoftware engineer
entrepreneur
Years active2016–present
Known forPaystack
Sporting Lagos F.C.

Shola Akinlade Listenⓘ is a Nigerian software engineer and entrepreneur, best known as the co-founder and CEO of Paystack,[1] a financial technology company acquired by U.S. payments firm Stripe in 2020 in a deal reported to be worth approximately $200 million.[2] In 2022, he was conferred with the national honour of Officer of the Order of the Niger (OON) by Nigerian President Muhammadu Buhari for his contributions to the advancement of technology in finance and business.[3]

Early life

Akinlade was born and raised in Lagos, Nigeria. He had his secondary education at St Gregory's College, Lagos. In 2006, he obtained a degree in computer science from Babcock University.[4] He started working at Heineken as a trainee for the company's database management. He later worked as a software engineer with several banks. In 2015, he founded Paystack with Ezra Olubi.[1][5][6]

Business career

Paystack

Akinlade's company Paystack was a part of startup accelerator Y Combinator's 2016 batch of startups and it was founded in 2015.[7] The company was created to help businesses in Africa get paid online and offline.[8]

In 2020, following Paystack's acquisition by Stripe, Akinlade said, "We couldn't be more excited to join forces with Stripe[9], whose mission and values are so aligned with ours, to nurture transformative businesses on the continent."[10]

Sporting Lagos F.C.

In 2022, Akinlade founded a football club, Sporting Lagos F.C. which he notes is a platform for community development and social change.[11][12]

Aarhus Fremad

In March 2023, Akinlade acquired a 55% stake in the Danish 2nd division football club Aarhus Fremad. The plan is for Aarhus Fremad to support the professionalisation of Sporting Lagos F.C., relying on Sporting Lagos F.C. as a talent academy in return.[13] It was in line with his efforts in community development and core social change, enabling local players to find career opportunities in Europe.[14]

Zap

Paystack launched Zap, a mobile application that allows foreigners in Nigeria to make payments using foreign cards, in 2025. [15][16] According to The Guardian, the application was first released on 14 November 2024 and updated on 3 March 2025, and had recorded over 1,000 downloads on the Google Play Store.[6]

Awards

In October 2022, Akinlade was conferred with the Officer of the Order of the Niger (OON) by President Muhammadu Buhari of Nigeria in recognition of his contributions to the advancement of technology in finance and business.[3] He has received numerous awards for innovation, leadership, and his outstanding contributions to the African digital space.[17]

Impacts

Akinlade has mentored young entrepreneurs and tech professionals in the hope of turning their ideas into impact and opportunities.[17]

References

  1. 1 2 "Nigeria: "The hard work is still in front of us" - Paystack CEO". The Africa Report.com. 23 October 2020. Retrieved 14 June 2021.
  2. ↑ "Silicon Valley payments firm Stripe buys Nigerian startup Paystack". Reuters. 15 October 2020. Retrieved 27 March 2025.
  3. 1 2 "Tech founders Aboyeji, Olubi, Ola Brown, others receive national honours". BusinessDay. Lagos, Nigeria. 16 October 2022. Retrieved 27 March 2025.
  4. ↑ "Meet Sola Akinlade, co-founder of Nigeria's foremost payment platform Paystack". Nairametrics. 8 September 2018. Retrieved 14 June 2021.
  5. ↑ Nsehe, Mfonobong. "Nigerian Fintech Startup Paystack Raises $1.3 Million". Forbes. Retrieved 14 June 2021.
  6. 1 2 Soaga, Olayide (25 March 2025). "Paystack launches 'Zap' app for fast bank transfers in Nigeria". The Guardian. Lagos, Nigeria. Retrieved 26 March 2025.
  7. ↑ and Fathia Olasupo (30 October 2025). "How Shola Akinlade Built Paystack into One of Africa's Leading Startups". The African Exponent. Retrieved 12 February 2026.
  8. ↑ Combinator, Y. "Helping African Businesses Get Paid, Shola Akinlade of Paystack". Y Combinator. Retrieved 29 January 2022.
  9. ↑ https://www.forbes.com/companies/stripe/
  10. ↑ "Stripe acquires African payments startup Paystack in €180m deal". Irish Independent. 15 October 2020. Retrieved 27 March 2025.
  11. ↑ Christiansen, Dennis Bjerre (28 March 2023). "Aarhus Fremad får ny ejer: IT-milliardær fra Nigeria køber sig ind i klubben". Århus Stiftstidende (in Danish). Retrieved 2 August 2023.
  12. ↑ Samuel, Oamen (24 September 2024). "Nigerians who own football clubs in Europe". The Nation. The Nation. Retrieved 13 April 2026.
  13. ↑ Salaudeen, Aisha (20 April 2022). "From fintech to football: With Sporting Lagos, Paystack's Shola Akinlade hopes to change the game in Nigeria". CNN. Retrieved 16 October 2022.
  14. ↑ Ijaseun, David (28 March 2023). "Shola Akinlade, Paystack co-founder buys 55% of Danish football club". BusinessDay. Lagos, Nigeria. Retrieved 12 February 2026.
  15. ↑ Okafor, Chinedu (26 March 2025). "Zap vs Zap: Two tech companies find themselves in the middle of an identity dispute". Business Insider Africa. Retrieved 26 March 2025.
  16. ↑ Oladunmade, Muktar (25 March 2025). "Paystack launches Zap, first consumer play". TechCabal. Retrieved 26 March 2025.
  17. 1 2 Akinwale, VIctor (13 October 2025). "Paystack's Co-Founder Shola Akinlade: A Journey of Vision, Purpose, and Impact". The Brief Network. Retrieved 12 February 2026.
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