Nigerian Startup Lazerpay, which offered cryptocurrency payments, has shut operations after announcing layoffs in November 2022.
Founder and CEO Emmanuel Njoku claims that the startup’s inability to raise money necessitated the decision to shut it down.
On April 13, 2023, Njoku tweeted, “Today, we announce the difficult decision to terminate operations at Lazerpay. Despite the tremendous work of our team, we were unable to conclude a successful fundraising round to keep Lazerpay operating. Unfortunately, we have reached the point where we must shut down after working very hard to keep the lights on for as long as we could.
In 2021, Njoku, then a teenager, founded Lazerpay to promote the acceptance of cryptocurrencies worldwide. The business assists companies in accepting stablecoin payments from clients all around the world.
Statement from Njoku Emmanuel, CEO and Co-Founder, Lazerpay. pic.twitter.com/UvBGMlKAgn
— Lazerpay Finance (@lazerpay) April 13, 2023