Nigerian crypto and Web3 company Lazerpay announced on April 13 that it is shutting down its operations. According to a statement released on Twitter by Lazerpay founder and CEO Emmanuel Njoku, the decision to shut down the startup was necessary after the company could not raise funds in a funding round. In the statement, Njoku said, “We are immensely grateful for the connection we have made and the impact our platform has made in the crypto ecosystem. We fought hard to keep the lights on for as long as possible, but unfortunately, we are now at the point where we need to shut down.”