Payday, a Pan-African Fintech startup, today disclosed that it has been accepted into the Techstars Toronto accelerator program.
With this, Payday becomes the first Rwandan company in history to join the prestigious 3-months Accelerator program that provides entrepreneurs with invaluable skills, resources, and connections to a large pool of global talent and investors.
Techstars is an operational investment company that assists founders and early-stage entrepreneurs scale their vision into a thriving business, beginning with the Demo Day at the end of the program where selected startups will be able to pitch to a carefully curated group of investors.
Payday's inclusion in this program represents an endorsement from one of the world's most reputable investor communities, emphasizing the potential of the company's business model and its commitment to developing innovative payment solutions that will liberate the e-commerce landscape in Africa.
Managing Director of Techstars Toronto, Sunil Sharma described Payday as "resilient" stating that "Payday has engineered a financial product that Africans need across the continent, and the recent traction they are seeing makes us believe that this is the start of something massive"
In his remarks, Favour Ori, CEO at Payday told benjamindada.com that "joining Techstars will be a game changer — this is an opportunity to work with and learn from outstanding mentors, as well as to leverage their experience, skills, and network to create a platform where all Africans, regardless of location, can enjoy financial inclusion"
A few weeks ago, "the Paypal of Africa" secured a one million dollars pre-seed fund to continue with its efforts to enable swift global payments for Africans by facilitating sending and receiving money globally from Africa and enabling payments between foreign employers and clients. As well as issuing Virtual Mastercards, and paying tuition and other fees in the United States, Canada, and the United Kingdom.
Currently, Techstars has 15 unicorns under its umbrella, including; SalesLoft, SendGrid, ZipLine, Chainalysis and DataRobot