Nigerian Buys 55% Stake In Popular European Club

Nigerian Buys 55% Stake In Popular European Club

Shola Akinlade, the 38-year-old co-founder of Nigerian online payment platform Paystack, has increased his holdings in Danish football club Aarhus Fremad.

On Tuesday, March 28, 2023, the club announced that Akinlade had purchased a 55% stake, making him the club’s largest single shareholder.

Akinlade’s second foray into sports ownership follows his ownership of Sporting Lagos.

Announcing Akinlade’s investment Lars Kruse, CEO of Aarhus Fremad said: “It’s no secret that it has probably cost a bit of my otherwise positive energy that I have had to transfer this money continuously to keep the club going.”

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“This is one of the worst things you can experience in a company when liquidity is at its limit. It’s terrible.

“He sees football a bit as we do in Fremad as a platform for experiences where you can do something for the society around you.”

Akinlade graduated from Obafemi Awolowo University with a Bachelor’s degree in Computer Engineering and from Stanford University with a Master’s degree in Computer Science. He and Ezra Olubi co-founded Paystack in 2015.

Paystack, which provides a secure and simple way for businesses to accept payments online, was acquired for $200 million by American financial services company Stripe in 2020.

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