---
title: "Why Brass shut down"
description: "Nigerian SME banking fintech Brass, which had been in a rescue process since a 2024 liquidity crisis and acquisition by a Paystack-led consortium, was fully absorbed into Paystack Microfinance Bank on June 1, 2026, ending its life as an independent company. [graveyard-sheet-seed]"
canonical_url: "https://liners.com/graveyard/brass"
markdown_url: "https://liners.com/graveyard/brass.md"
type: "graveyard"
language: "en"
image: "/graveyard/brass/certificate.png"
published_at: "2026-07-31T17:41:07.836Z"
updated_at: "2026-07-31T17:41:07.836Z"
---

# Why Brass shut down

Nigerian SME banking fintech Brass, which had been in a rescue process since a 2024 liquidity crisis and acquisition by a Paystack-led consortium, was fully absorbed into Paystack Microfinance Bank on June 1, 2026, ending its life as an independent company. \[graveyard-sheet-seed\]

## Breadcrumbs

- [Graveyard](/graveyard)
- [Brass](/graveyard/brass)

## Summary

Here lies Brass. It gave Nigerian businesses current accounts and cash-flow tools, then became the banking equivalent of a merger. Paystack kept the business alive. The Brass name was written off.

Nigerian SME banking fintech Brass, which had been in a rescue process since a 2024 liquidity crisis and acquisition by a Paystack-led consortium, was fully absorbed into Paystack Microfinance Bank on June 1, 2026, ending its life as an independent company. \[graveyard-sheet-seed\]

## Product history

| Field | Value |
| --- | --- |
| Fate | RebrandedAbsorbed |
| Primary cause | FundingRunway |
| Stage at shutdown | Seed |
| Lifespan in days | 2343 |

## Autopsy report

## What the product attempted

Brass built premium digital banking software for Nigerian SMEs, offering business current accounts and cash-flow analytics as an alternative to traditional bank SME offerings.

## What worked

Unknown (no specific traction figures found in sourced coverage).

## Early warning signs

By late 2023 Brass began experiencing delays in processing customer withdrawals; multiple founders publicly complained about difficulty accessing company funds, fueling fears of a wider confidence crisis in Nigerian fintech.

## What happened

Brass hit a liquidity crisis in 2024 marked by withdrawal delays starting October 2023. In May 2024 a Paystack-led consortium (with PiggyVest, Ventures Platform and P1 Ventures) acquired the company in a rescue deal. After a roughly two-year rescue effort, Brass was fully integrated into Paystack Microfinance Bank on June 1, 2026, ceasing to operate as an independent entity, with customers given until July 31, 2026 to migrate.

## Sources

- [Once-Beloved Fintech Brass Absorbed Into Paystack MFB After Two-Year Rescue Bid](https://weetracker.com/2026/06/01/brass-paystack-mfb-integration-nigeria/?ref=startupgraveyard.africa): Weetracker

## Related pages

- [Brass alternatives](/brass/alternatives)
- [Liners Graveyard](/graveyard)

## Access and citation

- [Canonical HTML page](https://liners.com/graveyard/brass)
- [Markdown route index](/sitemap.md)
- [Agent access guide](/llms.txt)