Olufemi Adeyemi
Following its inability to raise additional funding,
Nigerian crypto, Lazerpay, a web3 and crypto payment company, is shutting 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.
He announced in a tweet on Thursday, April 13, 2023, that, "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.
Since its launch, the company claimed that it has enabled over 3000 businesses globally. Lazerpay has also enabled merchants across more than 100 countries to convert crypto into fiat currency and vice versa.
"All Lazerpay merchants should withdraw their funds from the platform on or before April 30 using the bank or crypto payout options. "We remain committed to helping our users transition smoothly and to ensuring that any outstanding matters are resolved," he added. Also, the company disclosed that its IP is available for sale", Njoku said.
Offer to purchase the startup is now open to companies
interested in purchasing its IP.
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