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2023/12/16 19:25

Nigerian Crypto Firm Bitmama to Pay $1M

The Nigerian crypto platform Bitmama is reportedly set to acquire the African remittances startup Payday for $1 million. Reports of Payday’s acquisition come almost a year after the startup raised $3 million in a funding roundThe Nigerian crypto platform Bitmama is set to acquire the cross-border payment startup Payday for a reported sum of $1 million. The acquisition deal, which puts Payday’s value at $30 million, allows Bitmama to broaden its product offering to include cross-border remittances without having to start this service from scratch.

According to a Dec. 5 Techcabal report, Bitmama’s yet-to-be-consumated acquisition deal comes nearly a year after the previously high-flying Payday successfully raised $3 million in a funding round. Commenting on the deal, Favour Ori, founder and CEO of Payday, said:

“The deal is a work in progress. If the deal goes through, the result will be a strong team with much more efficiency.”

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