Nigerian crypto payments startup, Lazerpay, has shut down.
Founder and CEO,
Emmanuel Njoku, said the decision was made after the company was unable to
raise funds.
The startup advises
merchants to withdraw funds before April 30, 2023.
After announcing layoffs in
November 2022, Nigerian crypto payments startup Lazerpay has shut down.
According to Founder and
CEO, Emmanuel Njoku, the decision to shut down the startup was necessary after
the company was unable to raise funds.
Njoku announced in a tweet on
Thursday, April 13, 2023, that “today, we announce the difficult decision to
cease operations at Lazerpay. Despite our team’s tireless efforts to secure the
necessary funding to keep Lazerpay going, we were unable to close a successful
fundraising round. We fought hard to keep the lights on as long as possible,
but unfortunately, we are now at a point where we need to shut down.”
Njoku launched Lazerpay
as a teenager in 2021 to drive crypto adoption globally. The company helps
businesses accept stablecoin payments from customers globally.
According to Njoku,
Lazerpay has onboarded over 3000 businesses and has done over $1 million in
transactions so far.
The startup said it will
now focus on helping users transition smoothly by making sure outstanding
matters are resolved. It is advising merchants to withdraw their funds from the
platform before April 30, 2023, using the bank or crypto payout option.”
Offer to purchase the
startup is now open to companies interested in purchasing its IP.
Source: Techpoint Africa