Mohamed Chaudry, Chief Financial Officer and co-Chief Operating Officer of Vendease, has stepped down from his role as the company undergoes a significant transformation to achieve profitability and secure fresh funding. His departure in April 2025 comes as the Y Combinator-backed startup navigates a challenging economic climate, including currency devaluation and rising operational costs. The move marks a pivotal moment for Vendease as it intensifies its pivot towards a leaner, software-focused business model.
Chaudry's Impact During a Transformative Tenure
Chaudry joined Vendease in January 2024, bringing over 20 years of experience in scaling food tech ventures and raising capital. During his tenure, he led key initiatives aimed at reducing the company’s cost base, including a major operational overhaul and workforce restructuring. According to TechCabal, his dual role also placed him at the helm of the supply chain division, where he led a comprehensive effort to streamline logistics and pivot to a more scalable, tech-driven approach.
From Asset-Heavy to Software-Led Operations
Under Chaudry’s leadership, Vendease transitioned from an asset-heavy logistics model to a software-centric platform focused on core offerings such as payments and credit solutions. This strategic pivot was designed to improve profitability in the face of external economic pressures and internal resource constraints. The company’s Buy Now, Pay Later (BNPL) product, which has disbursed over $70 million in credit with a reported default rate of less than 1%, remains a cornerstone of its renewed strategy.
Difficult Decisions Amid Economic Strain
As part of the restructuring process, Vendease undertook two rounds of layoffs, reducing its workforce by around 44%, or approximately 180 employees. The company also exited the Ghanaian market in late 2024 due to limited funding, despite continued demand for its services. These cost-cutting measures were critical to preserving runway and aligning operations with the startup’s revised growth trajectory.
Innovative Compensation to Retain Talent
A notable feature of the company’s restructuring included the introduction of a performance-based compensation model, which replaced fixed salaries with outcome-driven incentives. Employees now receive a portion of their remuneration through an Equity Share Option Plan (ESOP), aiming to align long-term performance with equity value. This initiative reflects Vendease’s shift towards a startup culture grounded in accountability, ownership, and financial discipline.
Departure Rooted in Personal Mission
Chaudry expressed pride in helping stabilize Vendease through turbulent times but emphasized that his personal passion lies in scaling rather than restructuring businesses. “I genuinely loved working with everyone on my team, probably the best team I have ever had the pleasure of leading,” he shared with TechCabal. Despite the difficult decisions involved, he views his time at Vendease as a meaningful contribution to its evolution.
New Chapter: Launch of The Scale Up CFO Hub
Following his departure, Chaudry has launched The Scale Up CFO Hub, an educational platform aimed at helping startup founders become investor-ready. Drawing on his extensive financial and operational expertise, the platform seeks to bridge the knowledge gap for early-stage entrepreneurs navigating capital raises. This next chapter reflects Chaudry’s enduring commitment to growth-oriented leadership and ecosystem development.
With its leadership reshaped and strategic priorities redefined, Vendease is now seeking to extend its Series A funding round to strengthen its software capabilities and reinforce its market position. The company’s renewed focus on tech-enabled services signals a long-term commitment to scalable, capital-efficient growth across Africa’s food procurement sector. As it continues to adapt to a complex and volatile environment, Vendease’s success will hinge on executing this transition while preserving the operational gains achieved under Chaudry’s tenure.