Nigeria’s Lazerpay halts operations over funding issues. 2 other stories and a trivia

 

Nigerian crypto and web3 company, Lazerpay, has halted its operations after its inability to raise funding.

This was contained in a statement from Njoku Emmanuel, founder, and CEO of Lazerpay on Friday.

Lazerpay, which debuted in 2021, functioned like Stripe except for cryptocurrency.

Ripples Nigeria gathered that the company laid off some of its employees last November after the proposed lead investor for its seed round withdrew its interest due to the “market conditions and disagreement on terms”.

“Despite our team’s tireless efforts to secure the necessary funding to keep Lazerpay going, we were unable to close a successful fundraising round,” Njoku said.

Njoku added that all Lazerpay merchants should use the bank or cryptocurrency payout options to remove their monies from the system no later than April 30.