Months after raising $3 million, the Nigerian fintech PayDay is in talks and hopes to conclude a sale of the company soon.
Six months after raising $3 million in a seed round led by Moniepoint, the Nigerian fintech startup Payday is actively speaking to buyers. Favour Ori, the startup’s CEO, confirmed that PayDay is entertaining conversations with potential acquirers. “Active conversations are being had with people who reached out and expressed interest in buying,” Favour told TechCabal.
In March, one publication reported that Moniepoint was in discussions to buy Payday; a journalist at that publication said privately that the deal would be closed in three months.
“Favour himself leaked the news,” One source close to the situation said. “
[i]Moniepoint
had issued a letter of intent to acquire Payday, contingent upon
specific performance benchmarks being met. It was a matter anticipated
in the near future
[/i]
