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YC-backed food supply startup Vendease restructures employees’ salaries
Y Combinator-backed Nigerian food procurement startup Vendease has changed its employee pay structure and is seeking fresh capital.
In the latest development, the startup has now replaced employees’ traditional salaries with a performance-based pay system, supplemented by an Equity Share Option Plan (ESOP), according to internal documents seen by TechCrunch. With slightly over 150 employees left, Vendease is betting on internal restructuring, fresh capital, and AI-driven efficiency to cut costs and sustain operations. As the company points out, this also means focusing more on software-driven growth and doubling down on its sales and payments solutions and credit marketplace while gradually phasing out warehousing and logistics operations.
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