PayDay hits over 17,000 users six months after launch

PayDay hits over 17,000 users six months after the launch of the Fintech startup, based by Nigerian entrepreneur, Favour Ori has become the primary Rwandan organization to enroll in the distinguished Techstars Toronto Accelerator software in 2021.

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What is Payday?

Payday is the quickest and most efficient way to generate skills and creativity at some point in 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 a multiple functions fintech app that grants fees 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 a couple of transactions within some days.

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You also can use the dollar ($) tag to send cash to your 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 from their account (home).

More so, PayDay permits you to keep your cash in USD (for stability) and keep it 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, and 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 timetable of an unmarried market. Making it seamless and smooth to pay humans of their forex signals and via a couple of checkout alternatives is a robust improvement 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 online 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 of the largest markets on 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 by 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 of Risevest stated Payday is a thrilling product that makes shifting money around Africa and the sector extremely good easy, and the founding crew is relentless and dedicated to the mission.

You can also download payday on Google Playstore for Android users if you are an Ios user download it on App Store

or you can use their website https://www.usepayday.com/

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Tags: Fintech, startups in Nigeria, tech startups, Technology

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