In a remarkable achievement, US-based fintech startup Mainstack, which was co-founded by Ayobami Oyaleke, has secured a position in the top 20 startups out of a global pool of 200 at the prestigious TechCrunch Startup Battlefield competition, vying for a significant equity-free funding of $100,000.
According to sources, Mainstack stands as the only Nigerian-led startup, to have advanced to the esteemed top 20 stage. Mainstack operates as a fintech platform, empowering entrepreneurs and creators to showcase their offerings and seamlessly accept payments from a diverse global audience.
The distinguishing factor of Mainstack lies in its no-code API platform, simplifying the process for entrepreneurs to establish a digital storefront, generate invoices, and manage bookings, enhancing their reach and operational efficiency.
While Mainstack is based in the US, it maintains a subsidiary in Nigeria, showcasing its commitment to both local and global markets. Earlier this year, the startup successfully concluded an undisclosed pre-seed funding round, and is presently in the process of raising a seed round to fuel its growth and innovation.
The TechCrunch Startup Battlefield 200 witnessed a diverse array of Nigerian-led startups participating in the competition. In addition to Mainstack, several other noteworthy Nigerian-led startups made a mark in the TechCrunch Startup Battlefield 200. These ventures, including Akowe, Alusoft Technologies LTD, Bus54, and Famasi Africa, are striving to revolutionize various sectors they operate in, leveraging technology to address critical challenges and create a lasting impact.
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Ayobami Oyaleke, the co-founder of Mainstack, has been at the forefront of entrepreneurship, previously founding Placements.ng, a startup dedicated to creating internship opportunities for Nigerians. Oyaleke’s entrepreneurial journey has spanned over a decade, marked by the inception of four startups, with Mainstack, a Techstars 2023 New York alumni, being the latest venture.
This collaborative surge of innovative startups from Nigeria highlights the potential and dynamism of the country’s entrepreneurial ecosystem, propelling them onto the global stage and contributing to groundbreaking solutions that address multifaceted challenges.