Ogechi Yvonne Obike, the Chief Operating Officer (COO) and Co-founder of Payday, has recently declared her intention to step down from her position. Although no specific date was provided for her departure, Obike mentioned that she is in her "last days" with the company. She stated that Payday has reached a point where their growth journeys no longer align.
Reflecting on her joining Payday, Obike explained in a LinkedIn post, "Payday was preparing to become fully operational. However, like any early-stage startup, there was a need for someone who understood the intricacies of building teams, people, and a solid business structure to couple these into day-to-day processes."
In March 2023, Payday experienced another boost as it secured $3 million in seed funding, with Moniepoint Inc. leading the investment. The primary objective of this funding round was to expand Payday's operations and bolster its workforce with additional skilled professionals. However, shortly after the seed round announcement, reports emerged of a cash and equity deal worth under $40 million between Payday and Moniepoint. As part of this deal, Payday employees would receive Moniepoint stock in exchange for remaining with the team. Continue Reading
A Strategic Addition to Payday
Obike assumed the role of COO at Payday in February 2022, bringing with her valuable experience as the Head of Partnerships at Growth Platform and Senior Operations Manager at Venture Garden Group. At the time of her arrival, Payday had just concluded a successful $2.2 million pre-seed funding round in October 2021.Reflecting on her joining Payday, Obike explained in a LinkedIn post, "Payday was preparing to become fully operational. However, like any early-stage startup, there was a need for someone who understood the intricacies of building teams, people, and a solid business structure to couple these into day-to-day processes."
Rapid Progress and Collaborative Culture
Within a mere eight weeks of joining the team, Obike accomplished several significant milestones. She spearheaded the development of Payday's inaugural operational dashboard, fostering open communication and fostering a spirit of teamwork across all teams and departments within the organization.In March 2023, Payday experienced another boost as it secured $3 million in seed funding, with Moniepoint Inc. leading the investment. The primary objective of this funding round was to expand Payday's operations and bolster its workforce with additional skilled professionals. However, shortly after the seed round announcement, reports emerged of a cash and equity deal worth under $40 million between Payday and Moniepoint. As part of this deal, Payday employees would receive Moniepoint stock in exchange for remaining with the team. Continue Reading
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