Alex Omenye
Ogechi Yvonne Obike, the co-founder and chief operating officer of Payday, has declared her decision to step away from the company.
While she did not give a specific departure date, she did say that she was in her “last days” at the business and that Payday had reached a point when their respective growth paths could not align.
She had to quit the company as a result in order to pursue her passions.
“After several meetings with the CEO, I felt an immediate connection with the stage of the company, the proposed problem, and the potential outcome.” She said.
This occurs after 18 months of employment with the organisation. Obike began working for Payday in February 2022 as COO.
Obike noted that Payday required a skilled individual to include staff, teams, and a strong organisational structure into everyday operations when she began working for the company as COO, which she did with her team.
She cited the creation of Payday’s first operational dashboard, which promoted open communication and collaboration amongst all teams and departments, within eight weeks of joining the team as one of her finest achievements.
Payday, which was founded in 2021, offers its customers the ability to transfer and receive money in more than 20 different currencies.
Additionally, in March 2023, the business obtained $3 million in venture capital from Moniepoint Inc. to broaden its operations and hire more people.
Weetracker, however, claimed that Payday and Moniepoint had reached an agreement on a cash and equity deal under $40 million a day after it declared its seed financing. Additionally, it stated that employees of Payday will receive Moniepoint stock in exchange for sticking with the team.
According to TechCrunch, which broke the story of Payday’s seed round, the firm, which began operations in 2021, had been acquired for $15 million by one of the continent’s unicorns. Favour Ori, the CEO of the startup, revealed that the offer was declined.
Additionally, a Moniepoint executive denied rumors linking the company to Payday’s probable takeover. The investment made by Moniepoint in Payday, according to them, was “a strategic investment and not an acquisition.”
