Brass Business Banking moves into Paystack MFB

In 2020, Brass began with a simple question: why is it so hard for an African business to just bank?

Just the basics: to open an account, move money, pay a team, and understand finances. For thousands of businesses across Nigeria, those basics were broken: buried in paperwork, weighed down by fees, and built on systems that didn’t reflect how modern businesses actually operate.

So we built Brass.

A modern business account you could open in minutes, from any device, without ever stepping into a bank. Brass provided simple, powerful tools for payments, expenses, payroll, and cash flow, designed specifically for the businesses that power Nigeria’s economy.

Over the years, as Brass continued to grow, thousands of founders, startups, and growing SMEs trusted us with how they ran their finances. And we delivered.

But building a fintech company in Africa is not easy, and like many startups, we went through a period that tested both the business and the team. During that period, in May 2024, we entered a new phase when a consortium led by Paystack, alongside PiggyVest, Ventures Platform, and P1 Ventures acquired the company.

The goal was to strengthen our foundation and explore how Brass could evolve within the broader Paystack ecosystem.

What we built, and what we learned

Over the months following the acquisition, our team, led by Philip Obosi and Yvonne Obike, entered a focused phase of rebuilding.

We overhauled our internal systems and operational processes from the ground up, making sure that businesses that relied on us could manage their accounts, run recurring payments, organise team spending, and track their finances with greater clarity and reliability.

As we rebuilt and as our platform became more mature, something became increasingly clear. The next phase of our growth could not be achieved alone. It required deeper infrastructure, broader capabilities, and a platform already trusted by businesses across Africa.

That platform already exists within our ecosystem as Paystack Microfinance Bank (Paystack MFB). And it is the foundation for what comes next.

Moving into Paystack MFB

Brass will move its business banking into Paystack MFB. As part of this transition, Brass will no longer operate as an independent entity.

Paystack MFB is a licensed microfinance bank with the infrastructure and product depth to take our customers further.

It offers much of what Brass customers rely on today: managing accounts and operations, organising payouts and expenses, moving money quickly and reliably, and gaining insight into financial activity, alongside a broader set of capabilities within a more powerful platform.

Between now and July 31st, 2026, we will be moving interested Brass merchants into Paystack MFB in the least disruptive way possible.

Every Brass customer will hear from us directly with clear next steps on what this transition means for them.

To the businesses that built Brass

Brass exists because thousands of businesses trusted us with their financial operations.

Your feedback, support, and belief in our mission helped shape the platform into what it became. To every founder, operator, and team that built with us, thank you. It has been a privilege to support your work.

This transition marks a new chapter, with even greater capability for the businesses we serve. And this is only the beginning.

With love and gratitude,

The Brass Team.