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Nigerian crypto startup, Lazerpay shuts down
#crypto
#startup
#payments
#web3
Lazerpay, a web3 and crypto payment company, is shutting down. The shutdown comes months after the startup’s founder, Njoku Emmanuel, shared that the company was having trouble raising money. According to a statement shared by the founder Njoku Emmanuel on Twitter, the company has been struggling to stay afloat after failing to secure funding, and although they tried to “keep the lights on for as long as they could, they’re now at a point where they need to shut down.”
Lazerpay, a Nigerian-based startup that enabled developers to integrate crypto payments into their platforms, is shutting down after struggling to secure funding. The announcement of the closure came from the company's founder, Njoku Emmanuel, who shared that the startup tried to keep going but had to shut down. Lazerpay had downsized its workforce in November 2022 after the founder rejected an unfavourable acquisition offer from an existing investor. The startup enabled over 3000 merchants to receive and make payments in six currencies, including crypto. Lazerpay is now advising its customers to move their funds before the platform officially ceases operations on April 30, 2023.
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