👨🏿🚀TechCabal Daily – Grey launches Paycheck
In today's edition: Grey launches Paycheck || Mastercard, Interswitch partner to launch Google Pay || Moonshot day 1 recap from Phathisani’s POV || Moonshot day 1 recap from Emmanuel’s POV
On the second day of Moonshot 2026, Grey, a cross-border payments company backed by Y Combinator, unveiled Paycheck, a new salary account service. Idorenyin Obong, Grey's co-founder and CEO, announced this development at the TechCabal event.
Grey started as Aboki Africa in 2020, assisting Nigerians with currency exchanges in domiciliary accounts. Realizing that receiving payments was a significant challenge, the founders shifted focus to virtual accounts for remote workers and freelancers in dollars, pounds, and euros. Y Combinator backed Grey in 2022, and the company secured a $2 million seed round that year.
At the time of Paycheck's launch, Grey boasted three million users and processed payments totaling nearly $5 billion, marking a 170% increase in yearly payment volume. By offering salary accounts, Grey aims to be at the forefront of users' financial journeys, providing options for savings, currency conversion, fund transfers, and bill payments.
Grey joins a competitive landscape with firms like Raenest, Cleva, and Afriex, all vying for customers seeking multi-currency accounts. However, Paycheck establishes a unique relationship with users, ensuring their income remains within Grey's ecosystem for various financial activities.
Written by urgent.news from TechCabal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
