For years, the Nigerian startup Brass was a favorite for small and medium-sized businesses (SMEs). It offered a beautiful, simple dashboard where business owners could open accounts, pay their teams, and track their spending without the headaches of traditional banking.
Now, that independent journey is coming to an end. Brass has announced it will stop running as a separate startup and will completely merge its services into Paystack Microfinance Bank (Paystack MFB).
To understand this move, we have to look at the rollercoaster ride Brass went through over the last few years:
1. The 2023 Money Trouble: In late 2023, Brass hit a major roadblock. A shortage of funds meant customers faced long delays when trying to withdraw their money. This caused fear across the Nigerian tech industry.
2. The 2024 Rescue Mission: In May 2024, a group of major tech companies—led by payments giant Paystack, along with PiggyVest, Ventures Platform, and P1 Ventures stepped in and bought Brass to keep it from collapsing. The original founders left, and a new leadership team took over.
3. The Infrastructure Wall: Over the last two years, the new bosses successfully cleaned up Brass’s internal systems, making the platform reliable again. However, the team realized that a small, independent startup faces a strict limit on how much it can grow. To offer deeper banking services, they needed a powerhouse behind them.
Earlier in 2026, Paystack acquired its own microfinance banking license, creating Paystack MFB.
By rolling Brass directly into this bank, Paystack is building a “one-stop shop” for businesses. Instead of just helping companies accept payments online, Paystack can now hold their deposits, offer them loans, and give them a highly regulated, secure place to do all their banking.
What it Means for the Everyday Business Owner
If you are one of the thousands of business owners using Brass, here is the bottom line:
• No More Independent Brass: The Brass brand as we know it will fade away.
• Safe Transition: All interested customers will be safely moved over to Paystack MFB. The final deadline for this move is July 31, 2026.
• Better Upgrades: You will keep the features you love like payroll and expense tracking but they will now be backed by a larger, heavily regulated bank with stronger financial security.
The Brass team has stated they will contact every account holder individually to make the migration as smooth as possible, ensuring businesses don’t experience disruptions.
