Inside the Brass acquisition: strategic move or band-aid?
- Brass, a Nigerian fintech startup, has been acquired by a group of investors led by Paystack.
- The startup previously faced criticism for failing to provide customers with access to their deposits.
- There are concerns about whether the acquisition was a strategic move or a ploy to save investor funds.
The acquisition of Brass by Paystack raises concerns about the startup's previous failures and the motives behind the acquisition. The significant debt left by Brass also poses challenges for the new owners. This case serves as a cautionary tale about the importance of financial diligence and ethical leadership in Nigeria's startup ecosystem.
