Nigerian fintech, PayDay is looking to sell just six months after raising $3 million, BrandSpur Nigeria reports.
Recall PayDay raised $3 million in a seed round led by Moniepoint. Three weeks before the raise, an earlier report revealed that the fintech company was looking to raise $1.5 million to “grow its product and engineering team, expand its operations and get the required licenses for those expansions”.
Fortunately for the startup, the round was oversubscribed to the tune of an extra $1.5 million.
Favour Ori, the startup’s CEO, confirmed to TechCabal that PayDay is entertaining conversations with potential acquirers. “Active conversations are being had with people who reached out and expressed interest in buying”.