Nigerian crypto and Web3 company Laserpayannounced that it was closing after failing to raise funds.
Laserpay, 13 Aprilceased its operations as of 30. April He explained that they had to withdraw their money before . Founder and CEO of Lazerpay Emmanuel Njoku According to the statement made by the company, the decision to close was inevitable after the company could not raise funds in a financing round. Announcing the closure of his platform with a statement on Twitter, Emmanuel Njoku made the following statements in his statement: “We are extremely grateful for the connection we have established and the impact our platform has had on the crypto ecosystem. We’ve struggled to keep the lights on for as long as possible, but unfortunately we’re at the point where we have to turn them off.”
There were multiple layoffs
Laserpay, November 2022 It had necessitated numerous layoffs. The company’s layoffs were due to its inability to raise funds with the withdrawal of the lead investor.
The startup announced that it is refocusing on providing a smooth transition for users by solving existing problems. Accordingly, investors should use bank or crypto payment options and April 30, 2023 They were advised to withdraw their funds before However, the company invites other platforms to bid to sell its intellectual property.
Njoku, Lazerpay October 2021‘also Abdulfatai SuleimanAnd Prosper Ubi co-founded. The company was helping businesses globally accept stablecoin payments from customers. Njokuaccording to Laserpay, until now 3,000It acquired more than 1,000 businesses and processed over $1 million in transactions.
The African crypto-region has been rocked by the news of the shutdown recently. Last week, the Bitcoin peer-to-peer marketplace Paxfulannounced that it would cease operations.
However, some crypto payment startups across the continent are still thriving. Nigeriaan active Bitcoin exchange in nairaexan example of this.
