Paystack Founder, Shola Akinlade Buys 55% Stake in Danish Football Club, Aarhus Fremad

Paystack Founder, Shola Akinlade Buys 55% Stake in Danish Football Club, Aarhus Fremad

  • Shola Akinlade, the co-founder of Nigerian payment platform Paystack, has purchased 55 percent stake in Danish football club Aarhus Fremad.
  • Akinlade's acquisition is his second big sports investment, having also owned a football club in Lagos
  • He will be hoping that the two sports clubs based in Lagos and Denmark will work closely to produce talent

Shola Akinlade, the 38-year-old co-founder of Nigerian online payment platform Paystack, has added Danish soccer club Aarhus Fremad into 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.

Nigerian buys Danish club
Shola Akinlade acquires Danish club Aarhus Fremad Photo credit: @paystack, @Aarhus Fremad
Source: Facebook

Announcing Akinlade investment Lars Kruse, CEO of Aarhus Fremad said:

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"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."
"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 like we do in Fremad as a platform for experiences where you can do something for the society around you."

Akinlade profile

Akinlade holds a Bachelor's degree in Computer Engineering from Obafemi Awolowo University and a Master's degree in Computer Science from Stanford University, co-founded Paystack in 2015 alongside Ezra Olubi.

Paystack 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.

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