About Payday
Payday is a company based in Vancouver (Canada) founded in 2021 by Favour Ori was acquired by Bitmama in December 2023. It operates as a FinTech and Subscription Services. Payday has raised $5 million across 2 funding rounds from investors including Moniepoint, Bitmama and Microtraction. Payday offers products and services including Payday Virtual Card, Global Accounts, and Money Transfers. Payday operates in a competitive market with competitors including Remitly, Euronet Worldwide, Azimo, Xoom and BookMyForex, among others.
- Headquarter Vancouver, Canada
- Founders Favour Ori
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$5 M (USD)
in 2 rounds
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Latest Funding Round
$3 M (USD), Seed
Mar 29, 2023
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Investors
Moniepoint
& 22 more
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Employee Count
Employee Count
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Acquired by
Bitmama
(Dec 05, 2023)
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Products & Services of Payday
Payday offers a comprehensive portfolio of products and services, including Payday Virtual Card, Global Accounts, and Money Transfers.
Virtual Mastercard is provided for online transactions globally.
Multiple currency accounts are offered for global banking.
Fast global money transfers are facilitated through Payday.
People of Payday
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Funding Insights of Payday
Payday has successfully raised a total of $5M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $3 million completed in March 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Seed — $3.0M
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First Round
First Round
(08 Oct 2021)
- Investors Count 22
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2023 | Amount | Seed - Payday | Valuation | Moniepoint | |
| Oct, 2021 | Amount | Seed - Payday | Valuation | LoftyInc Capital Management , Microtraction |
Investors in Payday
Payday has secured backing from 23 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Moniepoint, Bitmama and Microtraction.
| Investor | Description | Founded Year | Domain | Location |
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Startups are accelerated globally without sector restrictions through structured programs.
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Early-stage investments are directed toward tech-enabled firms.
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Investments & Acquisitions by Payday
Financial Statements - Payday
Payday Comparisons
Competitors of Payday
Payday operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Remitly, Euronet Worldwide, Azimo, Xoom and BookMyForex, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cross-border money transfers are facilitated via banking networks.
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Electronic payments and transaction processing solutions are offered globally.
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Cross-border money transfers are enabled via a digital banking channel.
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Cross-border money transfers are enabled via banking channels.
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Online foreign exchange and remittance services are facilitated in India.
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International money transfer service provider.
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Frequently Asked Questions about Payday
Payday was founded in 2021.
Payday is headquartered in Vancouver, Canada. It is registered at Vancouver, British Columbia, Canada.
Payday is a funded company, having raised a total of $5M across 2 funding rounds to date. The company's 1st funding round was a Seed of $2M, raised on Oct 08, 2021.
Payday is engaged in providing digital banking solutions, including global money transfers and virtual Mastercard debit cards for online transactions. Services are extended to managing international bank accounts in multiple currencies such as USD, GBP, and EUR without hidden fees. The company operates primarily in the fintech sector, targeting freelancers, remote workers, and corporate employees with secure payment solutions. Operations are supported through partnerships with licensed transmitters in various jurisdictions.
Payday's top competitors include Azimo, Euronet Worldwide and NALA.
Payday offers Payday Virtual Card, Global Accounts, and Money Transfers.
Payday has 23 investors. Key investors include Moniepoint, Bitmama, Microtraction, Techstars, and Ingressive Capital.