In a significant development in Nigeria”s fintech landscape, blockchain payments platform, Bitmama Inc. has confirmed the acquisition of Payday, a virtual card service provider.
The news comes barely nine months after Payday announced its $3 million seed round and three months after its exploration of sale options was confirmed. Facilitated through Bitmama’s cross-border payments product Changera, the acquisition marks a pivotal shift from earlier speculations, including a potential acquisition by lead investor, Moniepoint. Changera is set to consolidate its blockchain payment platform by acquiring 100% of Payday’s customer base.
A source close to the matter, who declined confirming the financial terms of the deal, revealed to Techpoint Africa that acquisition conversations were initiated just a few weeks ago, and the process is “about 85% complete.”
Changera, launched in 2021, is set to absorb a number of Payday’s key personnel across various departments, including marketing, customer service, and engineering. This integration is already underway, with some Payday employees already transitioning to Changera. As a founder with a strong technical…
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https://techpoint.africa/2023/12/05/bitmama-changera-acquires-payday/
