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Payday wants to power the future of work for Africa with $3M seed led by Moniepoint Inc

Payday wants to power the future of work for Africa with $3M seed led by Moniepoint Inc

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Payday, a neobank issuing global (USD, EUR & GBP) accounts to Africans, has raised $3 million, money the platform intends to use to fuel its “future of work” initiative through borderless payment alternatives in major currencies.

Payday, a neobank that offers African customers global accounts in USD, EUR and GBP, has raised $3m to fuel its "future of work" initiative. Led by Moniepoint, investors include Techstars, HoaQ and DFS Lab’s Stellar Africa Fund. Payday's services allow remote workers and freelancers in Africa to send and receive payments and withdraw money in their chosen currency. It also offers virtual naira cards and currency swaps. The company intends to expand to the UK and build out operations there, and also hopes to study customer behaviour in order to offer loans.


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