PAYDAY Secures $3 Million to Revolutionize Worker Finance in Tunisia and Beyond
Tunisian fintech startup, PAYDAY, is poised to reshape worker finance across North Africa after securing $3 million in a pre-seed funding round. The investment, spearheaded by UGFS North Africa, TALYS Group, and BioProtection SA, marks a significant step towards digitally transforming financial services for a substantial portion of the workforce in Tunisia and throughout the region. This funding injection will fuel PAYDAY’s expansion plans, enabling them to broaden their reach and offer improved digital financial solutions.
Empowering Workers Through Digital Financial Tools
Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY addresses the critical need for accessible financial services among low and middle-income workers. The company’s core mission is to provide easier access to essential financial products like loans and insurance via digital platforms. PAYDAY achieves this by forging partnerships with banks, insurance providers, and employers. Their offerings include salary-backed loans, a financial product designed to address immediate needs, and micro-Takaful insurance. This innovative insurance model offers a simplified and more affordable way for workers to protect themselves against various risks, thereby mitigating financial vulnerabilities. This focus reflects the increasing importance of financial inclusion within the African tech landscape.
PAYDAY’s approach highlights the potential for technology to overcome traditional barriers to financial services, creating a more inclusive and financially empowered workforce in Tunisia and beyond.
Keywords
Related Keywords: Tunisia payday, worker finance, digital transformation, fintech Tunisia, PAYDAY Tunisia, salary advances, earned wage access, financial wellness, investment Tunisia, 3 million funding
