“Like in the next five years, I think Nigeria is going to be even more than the US.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Shola Akinlade
Insight
Building impressive things is the best way to network
“Startups, founders think they want to be the way to network, like the way to get out there is to network and just be everywhere, you know, but the way to build a strong network is to build something impressive”
Shola AkinladeOct 16, 2018▶ 11:44Helping African Businesses Get Paid, Shola Akinlade of Paystack · Y Combinator
AssertionSupported
Paystack was the only Nigerian payments company with automated disputes
“So we started building where the first company, I think was still the only company that has like An automated dispute process and all that.”
Shola AkinladeOct 16, 2018▶ 16:12Helping African Businesses Get Paid, Shola Akinlade of Paystack · Y Combinator
Insight
Payment fundamentals are identical across Africa, only local context varies
“We've spent a lot of time thinking about this, and these things work the same way in these markets. You know, the part that just changes is the local context.”
Shola AkinladeOct 16, 2018▶ 19:41Helping African Businesses Get Paid, Shola Akinlade of Paystack · Y Combinator
Disclosure
Paystack brought on Stripe and Visa for cross-border scaling expertise
“That's one of the reasons why just thinking about that series A, we had to think about companies that have figured out skill. Companies like Stripe, companies like Visa. Like if there's a company, the companies that have thought about moving payments from one …”
Shola AkinladeOct 16, 2018▶ 20:39Helping African Businesses Get Paid, Shola Akinlade of Paystack · Y Combinator
Insight
Foreign payments companies struggle in Africa due to local context
“And that is why when people say, oh, why won't an international company just come? To Africa because it's very difficult. This local context is difficult and it really takes a team that believes that this is why they're here.”
Shola AkinladeOct 16, 2018▶ 21:19Helping African Businesses Get Paid, Shola Akinlade of Paystack · Y Combinator
Insight
Engineering challenges require seasoned mentors who have seen problems firsthand
“Because I know with engineering, some things you just have to have seen the problems before. You can't really anticipate some things, you know, so just having someone having a 10 X engineer, just sit with a team of five engineers. I think it helps everybody.”
Shola AkinladeOct 16, 2018▶ 27:08Helping African Businesses Get Paid, Shola Akinlade of Paystack · Y Combinator
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