Bitmama Inc., a prominent cross-border payment solutions company, and Payday, a pioneer in digital payment solutions, have jointly announced the acquisition of Payday by Changera, a product of Bitmama Inc. This was disclosed In a statement made available to Innovation Village.
This is however, coming as a surprise as Payday announced in August 2023, that it had raised $3 million in a funding round led by Moniepoint Inc. So it was expected that Moniepoint would actually be the acquirer. This has turned out not to be the case.
The statement declared that the acquisition is said to be grounded in the shared commitment of both companies to provide enhanced financial services to their valued customers. The collaboration is anticipated to result in an expanded range of innovative product offerings and improved access to global services for customers of both Changera and Payday.
The statement however, did not mention the money involved the acquisition deal even though some reports stated that BitMama, reportedly offered PayDay investors $1 million worth of equity in the crypto company at a $30 million valuation.
According to Ruth Iselema, CEO of Bitmama Inc., “This acquisition is an exciting opportunity for Bitmama Inc through its product Changera to further solidify our position as a leader in the financial technology space while providing added value to our current and future customers actively seeking cross-border payment solutions.”
Favour Ori, CEO of Payday, added, “We believe that joining forces with Bitmama Inc will allow Payday to leapfrog the next innovative features to customers, satisfy current customers better and overall, offer an even more comprehensive suite of digital payment solutions, reinforcing our commitment to making financial transactions seamless for our users.”
