Payday, an African Fintech startup, has secured USD 1 Mn pre-seed capital to continue its efforts to enable Africans to make worldwide payments efficiently. The round included LofyInc, Microtraction, Magic Fund, Ventures Platform, Voltron Capital, CcHub Syndicate, Helicarrier Inc, Greencap Equity, Midlothian Angel Network, Emergence Capital, Olugbenga Agboola.
Other investors include; Charles Odita, Eke Eleanya, Adegoke Olubusi, Edmund Olotu, Prosper Otemuyiwa, Dimeji Sofowora, Perseus Mlambo (Union54), Abdul Hassan (Mono), Onyekachukwu Somtochukwu Eyisi, and a host of other investors.
Payday facilitates sending and receiving of money globally from Africa by enabling payments between foreign employers and clients. The company also issues visual Mastercards and enables people to pay tuition and other fees in the United States, Canada, and the United Kingdom.