Tunisian fintech startup PAYDAY has raised $3 million in pre-seed funding to revolutionize how workers across North Africa access financial services.
The round was led by UGFS (United Gulf Financial Services) North Africa, with participation from TALYS Group and BioProtection SA. The investment will fuel PAYDAY’s expansion across Tunisia and the wider region while accelerating its mission to provide digital loans and micro-insurance for low- and middle-income employees.
Building a Fairer Financial Future for Workers
Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY bridges the gap between banks, insurers, and employers to deliver financial solutions designed for everyday wage earners.
Its salary-backed loans and micro-Takaful insurance products are reshaping how workers manage emergencies and long-term stability—boosting both financial resilience and productivity.
Micro-Takaful, a Sharia-compliant form of microinsurance, operates on shared community support. Participants contribute to a common fund used to help others in times of need. Unlike traditional insurance, it avoids interest and speculation, making it both ethical and inclusive.
For PAYDAY users, this means affordable safety nets for emergencies and interest-free salary-backed loans that provide real financial relief when needed.
Strong Early Growth and Market Validation
Since launching, PAYDAY has already processed over 10,000 transactions worth more than 8.2 million Tunisian dinars, signaling strong early adoption and proof of market demand.
This success underscores the startup’s potential to become a regional hub for inclusive finance, offering digital access to credit, savings, and insurance products that directly improve workers’ well-being.
Strategic Expansion Backed by Industry Leaders
The $3 million pre-seed round isn’t just about capital—it brings deep expertise and strategic partnerships. Investors UGFS North Africa, TALYS Group, and BioProtection SA contribute experience in finance, technology, and operational scaling.
The funding will help PAYDAY integrate more banks, microfinance institutions, and insurers into its platform, expanding its service offerings and reach. Employers will benefit from simplified payroll-linked financial tools, while employees gain access to affordable credit, insurance, and digital financial wellness programs.
This dual-benefit model allows PAYDAY to assess both employers and employees together, enabling seamless payroll management, better employee welfare, and measurable corporate social responsibility outcomes.
Toward a Region-Wide Digital Finance Ecosystem
Looking ahead, PAYDAY plans to extend its services beyond Tunisia into other North African markets, targeting both formal and informal workers who remain underserved by traditional banks.
The startup’s mission is to build a digital ecosystem that unites financial institutions, insurers, and businesses in a shared effort to promote financial inclusion.
By simplifying access to microcredit and insurance, PAYDAY empowers low- and middle-income households to manage debt responsibly, gain financial education, and build resilience against unexpected expenses.
With over 10,000 successful transactions already under its belt, PAYDAY’s next phase focuses on scaling its platform, expanding its user base, and strengthening the infrastructure for sustainable growth across the region.
