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African fintech Payday has been selected to join the renowned Techstars Toronto Accelerator programme and is the first Rwandan startup to be selected to participate.
Payday selected to participate in Techstars Toronto Accelerator
Favour Ori CEO of Payday comments on the selection and taking part in the programme.
“Joining Techstars will be a game-changer for us. This is an opportunity to work with and learn from outstanding mentors, as well as to leverage their experience, skills, and network to create a platform where all Africans, regardless of location, can enjoy financial inclusion”
Hosted by Techstars, an operational investment company that assists founders and early-stage entrepreneurs to scale and grow their concept into a thriving business.
The accelerator programme will be conducted over a three-month period and aims to provide participants with various skills, resources and the opportunity to network and connect with potential investors.
Sunil Sharma, Managing Director of Techstars Toronto provides insight into why Payday was selected for the accelerator programme.
“Moreover, Payday has engineered a financial product that Africans need across the continent, and the recent traction they are seeing makes us believe that this is the start of something massive.”
Founded in 2021 by entrepreneur Favour Ori, Payday has soared since its official launch in July reportedly processing over $1.4-million in transactions.
The newly established fintech platform and services enable users to send and receive money globally. This service allows users to be paid by foreign employees and clients along with the service of virtual mastercards.
Payday aims to provide a one-stop fintech service for its users allowing them to move money freely globally.
Featured image: Payday, Supplied