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Tunisian fintech startup PAYDAY has raised $3 million in its pre-seed funding round to accelerate its mission of transforming worker finance across North Africa. The round saw participation from UGFS North Africa, TALYS Group, and BioProtection SA, marking a major milestone for the young company’s regional ambitions.
Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY is redefining how low- and middle-income workers access essential financial services. The company partners with banks, insurance providers, and employers to offer salary-backed loans and micro-Takaful insurance, an inclusive Islamic insurance model that pools community resources to provide affordable coverage without relying on interest-based mechanisms.
PAYDAY’s model is designed to make financial tools simpler, fairer, and more accessible. Through its digital platform, employees can apply for loans and insurance directly, while employers benefit from smoother payroll integration and enhanced financial well-being for their teams — factors that can boost retention and productivity.
Since launching, the platform has already processed over 10,000 transactions worth more than 8.2 million Tunisian dinars, underscoring the growing demand for accessible financial solutions in the region.
With the new funding, PAYDAY plans to expand its digital ecosystem, strengthen partnerships with more financial institutions, and extend its reach beyond Tunisia to serve other North African markets. The company also aims to improve its technology infrastructure to deliver more seamless and secure financial experiences.
This expansion aligns with PAYDAY’s broader mission to bring financial inclusion to informal and underserved workers—those often excluded from traditional banking and insurance systems. By simplifying access to credit and protection, PAYDAY is helping workers manage emergencies, avoid predatory loans, and build financial stability.
In a region where many workers still struggle to access formal financial systems, PAYDAY’s innovative approach represents a significant step toward digitally empowered, inclusive, and sustainable worker finance. The company’s growth reflects a broader trend of fintech innovation driving social and economic transformation across Africa.
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