Mohamed Chaudry, chief financial officer of Vendease, a Y Combinator-backed food procurement platform, stepped down in April 2025. His departure comes amid a restructuring effort as the company urgently bids to reach profitability and raise fresh funding. Chaudry has since launched an edtech platform, The Scale Up CFO Hub, that teaches founders how to become investor-ready.
Chaudry, who also held the title of co-COO, spearheaded the restructuring in the months leading up to his resignation. This process saw Vendease reduce its workforce by 180 employees and was implemented alongside a new, aggressive employee pay structure. Vendease has moved to a performance-based system where unpaid salary portions will convert into an Equity Share Option Plan (ESOP).
“Alongside my CFO role, I also took on a dual COO role, overseeing the entire supply chain and leading a comprehensive restructuring initiative,” Chaudry told TechCabal in a statement. “Whilst I am proud of helping Vendease navigate and stabilise through this period, my passion has always been in scaling businesses rather than restructuring them.”
Appointed in January 2024, Chaudry was brought in to help the company expand across Africa and the Middle East. However, the sharp economic downturn, marked by the naira’s devaluation and rising costs, forced the company to reduce the scale of its operations. He was tasked with helping the company rein in costs and chart a course to profitability, including exiting operations in Ghana.
Beyond layoffs, Vendease has significantly restructured its business model, notably enhancing its Buy-Now-Pay-Later (BNPL) offering to boost revenue. The company has shifted from a flat fee for this service to charging daily interest. These measures, including the workforce reduction and BNPL changes, are among several strategic moves Vendease has implemented to slash expenses and improve its margins.
Vendease declined to comment on any part of this story.
“I genuinely loved working with everyone on my team, probably the best team I have ever had the pleasure of leading,” Chaundry said in a message to TechCabal.
