It Will Be Great To Launch Stripe In Africa, Says Co-founder, Patrick Collison
Patrick Collison, co-founder of online payment startup, Stripe gave us a hint today that the company may be eyeing Africa for a future launch.
The 23-year old Irish scientist and entrepreneur in a Twitter update today said that it will be great to launch Stripe in Africa, while responding to my earlier tweet about Africa, hopefully, being next to get the payment service, after its launch in Europe.
In his tweet, Collison says the online payment service “still [has] a long way to go in Europe! But launching in Africa will be great.” [parentheses, mine]. Last September, Collison was hosted by the local tech community at Nairobi’s iHub where he talked about his start-up journey in his first visit to the African tech scene.
After raising $18 million from Sequoia Capital, PayPal co-founders Peter Thiel and Elon Musk and others – with valuation at $100 million – Collison is leading a company poised to completely disrupt the online payment industry.
The service which launched in 2010 lets web developers take payments via the internet, without having to set up their own merchant bank account or store consumers’ credit cards.
Since launch, Stripe has been an online payments disruptor including its competitor, PayPal which is available in a few selected African countries and excludes Nigeria for obvious reasons.
While Stripe may take a while before it launches in Africa due to perhaps the complexities of the financial system in the continent, I think that it launching here would be one of the best things that could ever happen to the Internet and mobile in Africa.