Lazerpay Customers have been advised to move their funds from the platform using bank or crypto payout options before 30 April 2023, when Lazerpay will officially cease operations.
Lazerpay, a Nigerian-based crypto payment company, has announced it is shutting down due to its inability to secure additional funding. The start-up had been struggling for some time after downsizing its workforce in November 2022.
Lazerpay, founded in 2021, developed an API that allowed developers to integrate crypto payments into their platforms, enabling merchants to accept payments in crypto. The start-up was on a mission to drive financial inclusion and interoperability in Africa, enabling merchants to receive and make payments in Naira, Cedis, Kenyan Shillings, Rwandan Shillings, US Dollars, and UAE Dirham.
In a Twitter update, Lazerpay founder Njoku Emmanuel said that the company had tried to keep the lights on for as long as they could, but they’re now at a point where they need to shut down due to lack of funding.
In its 17 months of operation, the company had served over 3,000 businesses. Lazerpay was backed by Shola Akinlade of Paystack, Nuwa Capital, Voltron Capital and Nestcoin
