Lazerpay, a Nigerian crypto and Web3 startup, announced recently that it will cease operations and has asked merchants to withdraw their funds before the end of the month. 

According to a statement shared by the startup’s co-founder and CEO Njoku Emmanuel on Twitter, Lazerpay’s failure to close a successful funding round proved to be the last straw.

Launched in 2021 with the objective of helping merchants convert their crypto to fiat and vice versa, Lazerpay is reported to have helped over 3,000 businesses accept payments in stablecoins. In addition, the startup claimed to have established a network of individuals that made its work so rewarding.

However, despite these achievements, the CEO noted in the statement that Lazerpay’s inability to secure adequate funding meant it could not continue operating. The CEO also emphasized that the Lazerpay team stands ready to help members of its community that may have questions or concerns.

In the same statement, The CEO also stated that he is ready to listen to offers from companies that may want to acquire Lazerpay’s domain.

“We welcome offers from companies who are interested in purchasing Lazerpay’s IP and who would like to continue building the future of crypto payments. We are more than happy to talk further about how our technology works, how we can help you set up to build or integrate with it,” the CEO said.