PayDay hits over 17,000 users six month after launch the Fintech startup, based by Nigerian entrepreneur, Favour Ori have become the primary Rwandan organization to enroll in the distinguished Techstars Toronto Accelerator software in 2021.
What is Payday?
Payday is a quickest and most efficient way for generation skills and creative at some point of the African continent to get hold of bills from their international or foreign customers within minutes all on their cellular phones or private computers.
PayDay additionally features as a multiple functions fintech app that grants fee of tuition, utility and Student and Exchange Visitor Information System (SEVIS) expenses in the United States, United Kingdom and Canada.
The platform also enables you to perform couple of transactions within some days.
You also can use the dollar ($) tag to send cash to own circle of relatives and friends. This is pretty strategic, particularly now that the Central Bank of Nigeria has delivered and maintained the “Naira 4 dollar scheme”, in which residents are given lower back a sure quantity of Naira for receiving dollars of their account (home).
More so, PayDay permits you to keep your cash in USD (for stability) and keep with the Virtual card.
For crypto lovers, For the crypto fans, you could withdraw cash on your crypto wallet (BTC), bank account and Momo account.
several investors have backed to build the future African Paypal investors like
LoftyInc Capital, Microtraction, Magic Fund, Ventures Platform, Voltron Capital, CcHub Syndicate, Helicarrier Inc, Greencap Equity, Midlothian Angel Network, Emergence Capital, and Olugbenga Agboola (GB).
Other investors include; Charles Odita, Eke Eleanya, Adegoke Olubusi, Edmund Olotu (Bloc), Prosper Otemuyiwa (Eden), Dimeji Sofowora, Perseus Mlambo (Union54), Abdul Hassan (Mono), and Onyekachukwu Somtochukwu Eyisi.
Payday is likewise utilized by foreign agencies consisting of TalentQL (TechStars), Tupelo, and a slew of others to pay their personnel in Africa for a whole lot of offerings consisting of payroll, taxes, and compliance.
Payday`s answer is extraordinarily well timed and it backs up Africa`s time table of a unmarried market. Making it seamless and smooth to pay humans of their nearby forex and via a couple of checkout alternatives is a robust improve for AfCFTA” said `Bosun Tijani, co-founder and CEO, Co-Creation Hub.
Temi Awogboro, General Partner at MAGIC Fund said “Magic is thrilled to be an early backer of Favour and the Payday group in accomplishing their audacious imaginative and prescient of permitting rapid without boundary lines on-line bills offerings for Africa, thereby connecting its customers with great possibilities across the world. This aligns with our founders-backing-founders thesis and we’re excited through the possibility to aid the group as they definitely disrupt the space.”
Africa is home to a number of the maximum proficient and bold marketers we see in the world today, and they may be fixing issues for one in all the largest markets at the planet.
Sending cash remains complicated, time-ingesting and pricey however we agree with Payday Africa has the imaginative and prescient to disencumber Africans and the worldwide diaspora to ship and acquire cash quickly and affordably” stated Sunil Sharma, Managing Director of Techstars Toronto.
We were actually inspired with Payday`s pace to combine and release with Union54. They have labored tirelessly to convey a best-in-magnificence product with a satisfying design.
They have a considerate technique to simplifying how cash movements and we’re overjoyed to aid them these days and for the future” added. Perseus Mlambo, CEO at Union54.
Eke Eleanya, Founder/CEO Risevest stated Payday is an thrilling product that makes shifting money round Africa and the sector extremely good easy, and the founding crew are relentless and dedicated to the mission.
or you can use their website https://www.usepayday.com/