Mainstack processed $1.5 million in transaction volume for 9,000 customers last September. The founders, Ayobami Oyaleke and Olamide Akinola, pitched that number on stage at TechCrunch Disrupt 2023. Their bet is to give creators and small businesses a no-code tool to build storefronts, portfolios, and booking pages, then handle the cross-border payments underneath. For a Nigerian-led company operating from Austin and Lagos, the early traction suggests they found a wedge.
The No-Code Payments Wedge
The initial product was a pre-beta storefront with payments, launched in January 2022. It attracted 3,000 users and processed $100,000 in its first month [TechCrunch, September 2023]. The platform has since expanded into a unified ecosystem for media kits, invoicing, and bookings. The core proposition abstracts the complexity of payment APIs and currency conversion into a simple interface.
Traction in a Growing Market
The company reports serving users in 127 countries with a 33% month-over-month growth rate as of last fall [TechCrunch, September 2023]. Africa's creator economy alone is projected to grow from approximately $5 billion in 2025 to nearly $30 billion by 2032 [Lawyard].
The Funding and Competitive Landscape
The company raised a $500,000 seed round in 2023, led by Techstars with participation from Midlothian Angels Network [TechCrunch, September 2023]. The competitive field includes platforms like Selar, another Nigerian player serving creators. A March 2026 report from Weetracker described "bad blood" between the companies [Weetracker, March 2026].
| Company | Primary Focus | Known Scale | Geography |
|---|---|---|---|
| Mainstack | No-code storefronts & global payments | 9,000 customers, $1.5M volume (2023) | Global, HQ in Austin/US, Lagos/NG |
The Road Ahead
The Techstars backing and the Top 20 finish at TechCrunch's Startup Battlefield 200 provide validation [Techpoint Africa, September 2023]. The founders, who have participated in forums like Startup Grind Lagos, are betting the complex global payment flow can be made simple enough for anyone to use [Startup Grind].
Sources
- [TechCrunch, September 2023] Mainstack's no-code online business service eliminates cross-border payment complexity | https://techcrunch.com/2023/09/20/mainstacks-no-code-online-business-service-eliminates-cross-border-payment-complexity/
- [TechCrunch, September 2023] Mainstack Pitches at Startup Battlefield | TechCrunch Disrupt 2023 | https://www.youtube.com/watch?v=XnI-Vyv5SgM
- [Lawyard] Africa's creator economy projected growth |
- [Techpoint Africa, September 2023] Nigerian-led Mainstack emerges as one of the top 20 startups at TechCrunch Startup Battlefield 200 | https://techpoint.africa/2023/09/19/mainstack-emerges-t0op-20-at-techcrunch-startup-battlefield-200/
- [Weetracker, March 2026] Bad Blood Between Nigeria's Creator Economy Rivals Spills Onto The Streets | https://weetracker.com/2026/03/16/selar-mainstack-rivalry-nigeria-creator-economy/
- [Startup Grind] From Vision to Venture: Lessons in Startup Success W/ Ayobami Oyaleke(Mainstack) at Startup Grind Lagos | https://www.startupgrind.com/events/details/startup-grind-lagos-presents-from-vision-to-venture-lessons-in-startup-success-w-ayobami-oyalekemainstack/