Why this Nigerian startup issued ₦14.9 billion in commercial papers
- Payaza issued ₦14.9 billion in commercial paper and repaid it in under six months.
- The company was bootstrapped and focuses on providing payment tools for small and medium-sized businesses in Nigeria.
- CEO Seyi Ebenezer emphasizes the importance of building trust and discipline through structured financial practices.
The success of Payaza in utilizing commercial paper demonstrates a viable alternative funding strategy for startups in Nigeria, which could lead to greater financial discipline and accountability. This approach may encourage other startups to rethink their funding strategies and foster a more robust financial ecosystem in the region.
