Nigerian fintech Payday, after securing a $3 million seed funding round in February, is now in talks to be acquired by Bitmamaa Nigerian crypto exchange startup.
This news comes three months after Payday reportedly began exploring acquisition opportunities.
Bitmama is offering Payday investors $1 million worth of equity in the crypto company at a $30 million valuation.
Ruth Iselema, the CEO of Bitmama, expressed enthusiasm for the acquisition, stating that Favour Ori, the CEO of PayDay contacted her because Bitmama is expanding its product range beyond crypto, and one of these offerings is Changera—Bitmama’s relatively new remittance service—which made sense to her.