This African Founder Wants You to Get Payd

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In this #FoundersSeries with Benaiah Wepundi, we went beyond the usual founder stories and dove deep into the mind of a relentless visionary shaping African fintech. At just 22, Benaiah carries the wisdom of someone far beyond his years, yet his energy remains electric and youthful. We talked about everything—his entrepreneurial roots in a teenage bedroom, where he ran his first gaming startup, his journey through Payd HQ, and his unwavering drive to solve challenges in the gig economy.

Throughout our chat, Benaiah was candid, insightful, and full of laughter, embodying the fearless spirit of a founder who refuses to let obstacles slow him down. He’s not just building a company—he’s shifting paradigms for gig workers across Africa, and he’s doing it with passion, purpose, and a relentless pursuit of impact.

In this interview, you’ll see Benaiah’s philosophies, his thoughts on the future of fintech, and what keeps him pushing forward. Let his story inspire you to take bold steps toward your own dreams—no matter how daunting they may seem.

How did we get here?

I have always described myself simply: a young boy with dreams. But to paint a clearer picture of who I am now, I think I’ve always loved entrepreneurship. In high school (I went to Friends School Kamusinga), I saved up some money and bought a computer—actually, calling it a computer is modest... it was mostly computer parts

Such a geek...

(Laughs) No, I didn’t buy them because I’m a geek or because I loved assembling them. It’s just what I could afford at the time.

Right

So, with this computer, I started a gaming shop in my bedroom. After a while, I noticed that the kids would stay all day—often without a snack or food—and I saw an opportunity. I somehow managed to convince my mother to make bhajias so the kids would have some food. This made them stay even longer, which was good for business. (Pauses) In many ways, my mum was my first angel investor. (Laughs)

I later joined university to study law, and somewhere along the way, I joined PLP and Moringa School to study software engineering. After the boot camp, PLP hired me as an intern. I had to take a break from law school, and soon it became clear that I was never going back.

You quit law school? Without a plan?

Yes. I decided to bet on myself.

How did your parents take it?

Not easy at first. But then, I later got a remote job for a US-based company. I was making good money and gained a lot of experience in the different leadership positions I held. Luckily, I can say the decision paid off in the end, if the success of Payd is anything to go by.

Do you consider yourself lucky?

It’s not luck. I worked towards it. But I’ve found that hard work increases the chances of luck.

Right. What’s your morning routine like? How do you start your day to stay sharp and focused?

(Laughs) This usually disappoints a lot of people, but I don’t really have a morning routine. I’m nocturnal, so I wake up around 11 a.m., check emails, and then get onto the rest of my to-do list, which is always different each day. I try to eat healthy, though—I make sure to have a smoothie daily. But my routine is simple: wake up and get things done. And I make it a point to learn a new concept daily. Oh, I also don’t work out, but I feel like that should start soon.

Nice. Do you ever struggle with imposter syndrome?

No, not anymore. At the beginning, I did though. As a young founder, I always felt like people were judging me based on how I looked, what I wore, how I spoke… so I became self-conscious. When going on panels, I’d dress in formal wear, trying so hard to look the part.

Now, I just try to be myself. I want people to judge me based on the success of my company and my leadership, not aesthetics. My cofounders agree too. Payd is a Gen Z company—the average age of the staff is 25. I’m actually the second youngest, so...

My shoe game is on point, though. (Laughs)

It’s interesting that you bring up your cofounders. From the outside, it looks like you have a solid team, which explains part of your success. How did you identify your cofounders?

I looked at my closest friend group. Japheth is a close friend; we had the same vision, the same fire. We understood each other, loved startups, and shared a passion for fintech. Diana was a technical mentor when I was at Moringa. She loved the product, joined us, and brought her expertise. The rest is history. So, for young founders, the key is to ask: What does everyone bring to the table? Make sure it aligns with the company vision and is founded on respect.

How important is a cofounder? Do you think you’d have had the same success without yours?

I wouldn’t have. Cofounders bring unique perspectives that benefit the business. I’ve had ideas that seemed brilliant, but once I ran them past my cofounders, we identified why they wouldn’t work. Without them, I might not see past my own biases. So, it’s crucial to have cofounders who hold you accountable and want the best for the business.

What advice would you give young founders struggling to get funding?

Zoom out. What should you do differently? If your startup is early stage, go for grants and pitch competitions designed to take founders from 0 to 1. There are many. Most investors prefer taking businesses from 1 to 10. Work on your idea first. Understand it completely before seeking VC checks. In the meantime, seek help from family and friends if you can. Don’t give up—you’ll get many 'no's. Mozilla was our 66th funding application. And don’t be so quick to give up equity in desperation.

What’s the key to writing a winning grant proposal?

Understand where the heart of the grantor lies. What are they really looking for in a beneficiary? Most grants are impact-focused, so solve a real problem practically and prove why they should trust you with their money. Don’t be too full of your own ideas. If you’re getting rejected a lot, step back and consult for different approaches.

Was there a defining moment in your life that set you on this path?

Japheth and I have experience in the gig economy. We experienced firsthand how hard it was to receive cross-border payments seamlessly. Most times, PayPal would flag our payments for suspicious activity, especially for large sums. It was quite frustrating, and it quickly became evident that there was a huge gap between gigs and payments.

Secondly, in my former role as a COO, I noticed that every month, the CEO took an entire day off just to handle payroll. I found it absurd how difficult it was to manage payroll when your team is spread out globally. I instantly knew what I needed to work on: streamlining payments and payroll in the gig economy.

Please explain to our audience how Payd works.

Payd is a neobank for global gig workers, built by gig workers for gig workers. Kenya, and Africa in general, has a vibrant gig economy that lacks proper infrastructure to ensure success. So, Payd doesn’t just help you receive payments seamlessly—we also teach crucial skills like budgeting, saving, and investing. We aggregate all your income onto one platform.

When using Payd, users create an invoice, and their clients receive a link through their preferred platform (email, WhatsApp, etc.). Once money is received in USD, we exchange it for USDC, which is a stablecoin version of crypto. The reason for this is that USDC is almost immune to volatility, as it’s pegged to the value of fiat currency. Additionally, the cost of transferring USDC is quite friendly, making it perfect for gig workers who want to avoid the high fees associated with cross-border payments.

We hold the money for 24 hours before it reflects in your USDC wallet. There are several reasons for this, but the most important one is that it allows us to comply with Anti-Money Laundering (AML) and fraud policies. We’re integrated with many local banks, Mpesa, Apple Pay, and Google Pay. At the moment, we’re working on solutions to help you receive your money even faster.

I love it. In what ways has your leadership style evolved over the years, and what do you believe makes an effective leader in today’s world?

I’ve become better at articulation. I think what makes an effective leader is listening well, owning up to mistakes, creating room for diverse perspectives through delegation, and leading by example. You can’t lead farmers from a castle; you need to get your hands dirty.

What’s been the most unexpected lesson you’ve learned in your entrepreneurial journey, one that’s shaped your perspective on work and life?

(Pauses) That, as a young founder, work-life balance is an enigma. The two just don’t seem to mix, and I’ve made peace with that. What I’m aiming for now is work-life harmony. Most days, I’ll focus on one more than the other, and that’s okay.

Many entrepreneurs talk about the challenges of scaling. What has been the biggest challenge in scaling Payd?

The number of licenses we need to operate in Africa. It’s crazy that in each African country, you need more than one license to operate. I think Africa needs a unified licensing framework to spur economic growth.

Has it been more about the technology, market adoption, or regulation?

Without a doubt, regulation and compliance. The infrastructure is already there, so market adoption and technology weren’t the main challenges.

If you could implement one policy to fast-track fintech development in Africa, what would it be?

Standardized licensing.

As someone who has worked closely in both AI and fintech, how do you see these two industries evolving together on the continent?

I think we’ll continue to see real-world use cases emerge. Stablecoins will definitely revolutionize work globally, and I see AI driving their adoption in Africa and beyond. For instance, Payd uses AI for things like fraud detection and as a financial coach based on user history and patterns. I hope we reach a point where users have endless options for receiving cross-border payments.

How do you handle critics who say we don’t need another fintech?

If they’re not doubting you, you’re not doing enough. We just listen to our customers. What do they want? They’re the most important part of our business. Everything else is just background noise.

Who have been the biggest influences in your life—personally or professionally—and how have they impacted your journey?

Mark Zuckerberg. He’s been whatever his company has needed at any given time. When it needed a scrappy founder, he was that. When it needed an executive, he suited up and played the part—all without losing sight of his vision. The Collison brothers of Stripe also inspire me, especially in fintech. Locally, I’d say Tesh Mbaabu. He’s relentless. He refuses to give up, even when people count him out, and he’s redefined for me why founders in our ecosystem need to support each other.

You’ve worked on some cutting-edge projects. What’s one project that you feel most personally connected to, and why?

Obviously, Payd. I love that we’re helping gig workers create their own luck while shifting paradigms in the gig economy.

What’s your approach to overcoming challenges or failures?

I try not to react immediately. I always take a step back to evaluate where I went wrong, but I make sure I don’t get stuck in analysis paralysis.

If you weren’t working in fintech or AI, what other field or passion would you be pursuing?

I’d either be a lawyer or working in communications and PR.

What books, podcasts, or resources do you turn to for inspiration or personal growth?

For books, I love Zero to One by Peter Thiel and The Hard Thing About Hard Things by Ben Horowitz. I also listen religiously to Lex Fridman’s podcast and Lenny’s Podcast. I’m a big fan of Rick and Morty, House of Cards, Jack Ryan, and Spider-Man.

As someone who has experienced global tech spaces, what makes Africa unique in terms of innovation, and how do you think the world underestimates that?

Community. We’re so big on community here, so when we innovate, the market responds to solutions that leverage the power of communities. The lucky ones will be those who find a way to monetize community without being exploitative.

If you could give advice to your younger self when you were just starting out, what would it be?

Learn to code earlier.

What role does mentorship play in your life, and how do you approach mentoring others?

I have several mentors who have been instrumental in helping me gain clarity and introducing me to new growth opportunities. My approach to mentorship is simple: “I’ve learned ABC from my experience; here’s how you can apply that to XYZ.”

What do you think are the most important values that guide you as an entrepreneur and leader?

Learn early and learn often. When hiring, choose people with a genuine desire to learn. Fail fast, but fail forward. Get up and recover when you fall. Move fast, make things. And the most basic of all: treat everyone with kindness.

Do you have a personal mantra or philosophy that you live by?

Audere est facere—to dare is to do. I’m not just a young boy with dreams. I know that to achieve those dreams, I have to get out there and actualize them with no fear.

What’s one thing about you that people might be surprised to learn?

(Laughs) That I’m the last-born child in my family.

Looking ahead, what excites you most about the future—not just in technology, but in life?

The world is moving toward an inclusive future. We all want to be involved and to belong. It excites me that we’re returning to this crucial aspect of existence. For our ecosystem, I hope we build better self-correcting mechanisms. We shouldn’t be as hard as we are on founders who fail and make mistakes. I hope we grow to the point where failure is seen as evidence of daring greatly, of being in the arena fighting.

However, that’s still not possible because we place a heavy responsibility on founders to represent the entire continent. When they fail, it reflects on all African founders. Why can’t we view their successes the same way?

What is your relationship with failure?

(Laughs) Payd is my third attempt. Failure is an opportunity to learn.

What do you know for sure?

You can never go wrong with building in public.

I’d love to hear your thoughts on Benaiah’s journey and vision with Payd. How do you see innovations like Payd transforming the gig economy in Africa? Let me know here

Talk to me: [email protected]

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