Chaudry, a financial expert with experience in turning around struggling companies, was appointed as the Chief Financial Officer (CFO) and Chief Operating Officer (COO) of Vendease. His mandate was to restructure the company’s finances, improve operational efficiency, and restore confidence among suppliers and employees.
Chaudry immediately got to work, implementing cost-cutting measures, renegotiating supplier contracts, and improving cash flow management. He also introduced financial controls to prevent further defaults on payments and ensure that the company’s financial obligations were met.
Under Chaudry’s leadership, Vendease began to see some improvements in its financial situation. Supplier relationships were repaired, and some outstanding debts were repaid. Employee morale also improved as Chaudry worked to address their concerns and ensure that they were fairly compensated for their work.
However, despite these efforts, Vendease continued to face challenges. The company’s revenue was not growing as expected, and its financial obligations remained a burden. The restructuring of employee salaries further strained relations between the management and staff, leading to discontent and mistrust within the company.
In May 2025, Mohamed Chaudry resigned from his position at Vendease, citing personal reasons. His departure came as a blow to the company, as many employees and suppliers viewed him as a stabilizing force during a tumultuous period.
With Chaudry’s departure, Vendease now faces uncertainty about its future. The company must find a new leader who can navigate the challenges ahead and steer the company towards stability and growth. The road ahead may be difficult, but with the right leadership and a concerted effort from all stakeholders, Vendease may yet overcome its current struggles and emerge stronger than before. After reports surfaced that Chaudry was responsible for restructuring Vendease’s finances and recommending a reduction in staff, it was revealed that he left his role in January 2025 due to the company’s inability to afford his $15,000 monthly salary. This departure came as a surprise to many, as initial reports suggested he left in April. Chaudry was not the only senior hire earning such a high salary, as another executive was also making ₦5 million monthly.
In April 2025, Co-founder and founding CEO Tunde Kara reportedly suggested shutting down the business and focusing on settling liabilities. However, this recommendation was not followed, and Kara ultimately stepped aside from the CEO role. According to Fayankin, who previously served as the startup’s chief operating officer, Kara’s exit was a result of the company’s new direction.
In 2023, Vendease began developing a tech product aimed at powering food businesses. This product was designed to integrate hardware, software, and payment solutions for users. Despite high hopes, the platform failed to gain traction as businesses preferred to stick with familiar software solutions to avoid disrupting their operations.
Fayankin shared the company’s vision of becoming Africa’s most resilient food-tech platform by focusing on asset-light solutions. This strategy involved developing software solutions for payments and inventory management, expanding the credit business, and partnering with logistics providers rather than owning a logistics network.
While this pivot is common among African startups in the e-commerce space, Vendease’s niche focus may present challenges. Despite the leadership’s optimism, employees are uncertain about the company’s future. The company’s success will depend on its ability to navigate these challenges and adapt to the evolving market landscape.
