Tunisian fintech-insurtech startup PAYDAY has successfully raised $3 million in a pre-seed funding round, marking a major milestone in its mission to enhance financial access across Tunisia and the broader MENA region. The round was led by UGFS North Africa, with additional backing from TALYS Group and BioProtection SA. The investment brings PAYDAY’s valuation to $3 million.
Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY offers a digital platform that connects insurers, banks, employers, and employees. The platform delivers innovative financial solutions, combining salary-backed credit with micro-Takaful insurance. This approach is designed to support the financial well-being of low- and middle-income workers through ethical, accessible, and Shariah-compliant services.
Since its launch, PAYDAY has shown strong early traction. The startup has already processed over 10,000 transactions, with a total transaction volume exceeding 8.2 million Tunisian dinars. These figures reflect growing demand for inclusive and affordable financial products in the local market.
With this new round of funding, PAYDAY aims to expand its footprint and become a regional aggregator of financial wellness services. The company plans to integrate banks, microfinance institutions, and insurers into a unified ecosystem tailored to the needs of both employers and employees. This next phase of growth will further support PAYDAY’s vision of transforming how financial and insurance services are accessed across the region.
This development represents a significant step forward not only for PAYDAY but also for Tunisia’s growing fintech ecosystem, positioning the startup as a key player in the ongoing digital transformation of financial services in MENA.