Paystack founder, Akinlade, buys 55% stake in Danish football club, Aarhus Fremad
Shola Akinlade, the 38-year-old co-founder of Nigerian online payment platform Paystack, has added Danish football club Aarhus Fremad to his number of assets.
On Tuesday, March 28, 2023, the club announced that Akinlade bought a 55% stake to become the largest single shareholder of the second-division club.
The investment marks Akinlade’s second foray into sports ownership, having owned 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 holds a Bachelor’s degree in Computer Engineering from Obafemi Awolowo University and a Master’s degree in Computer Science from Stanford University. He co-founded Paystack in 2015 alongside Ezra Olubi.
Paystack which offers a secure and easy way for businesses to accept payments online, was acquired by American financial services company Stripe in 2020 for $200 million.