Stripe, Visa and Tencent have contributed to a series A funding round for Paystack, a Nigerian-based company that specializes in providing merchants with online payment options.

Paystack raised $8 million in this round, according to multiple reports. Tencent also had contributed funds to the Paystack's last round. 

"The Paystack founders are highly technical, fanatically customer oriented, and unrelentingly impatient," Patrick Collison, CEO of Stripe, said in a statement about the funding. "We're excited to back such people in one of the world’s fastest-growing regions."

Multiple media reports have framed Paystack as the "Stripe of Africa." Paystack will use the funding to expand outside of Nigeria into the rest of Africa, according to the reports.