With Starlink‘s emergence in Rwanda, an Africa-based neobank payday was officially restarted in the country.
What happened: Payday took to Twitter on Tuesday to announce their official relaunch. “Hello, Rwanda. We’re back!” Payday tweeted about its official handle.
With the launch, users will be able to sign up, pay for SpaceX’s Starlink, exchange currencies, and send money to Rwanda and Nigeria.
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Why it matters: Founded by prefer original In June 2021, Payday allows users to open multiple global accounts in dollars, pounds or euros and send and receive money worldwide. The neobank, which operates in Nigeria, Rwanda and the UK, has over 350,000 users and about 40,000 transactions per day, according to its website.
Late last month, Payday raised $3 million in a seed funding round led by Moniepoint Inc, bringing the total amount raised to date to $5.1 million. The newly raised capital would be used to secure operating licenses in the UK and Canada and set up operations in the UK, the company said.
Nigeria became the first African country to receive Starlink Satellite broadband service in January. In late February, SpaceX announced it was live in Rwanda. Although there were initial reports of users being unable to make payments, Payday later stepped in with several Nigerian users using their virtual cards to pre-order. reported Business Insider.
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