Tunisian Fintech PAYDAY Secures $3M Funding Round to Expand Financial Solutions
PAYDAY, a Tunisian fintech and insurtech startup, has successfully closed its initial pre-seed funding round, achieving a valuation of $3 million. This significant milestone marks a promising start for the company, which aims to revolutionize financial well-being and inclusion within Tunisia and potentially across Africa. The funding round garnered the support of UGFS North Africa (United Gulf Financial Services), alongside contributions from TALYS Group and BioProtection SA.
Innovative Financial Products for Businesses and Employees
Launched in 2024, PAYDAY distinguishes itself by combining salary-backed financing with micro-Takaful protection, offering a unique solution to address the financial needs of businesses and their employees. The company has already processed over 10,000 transactions, showcasing early adoption and market validation. According to Dr. Mohamed Anouar Gadhoum, Co-founder and CEO of PAYDAY Takaful, the new funding brings together key players. He also notes that it strengthens PAYDAY’s capacity to grow and make its innovative solution a scalable service, benefiting both companies and their workforce. This infusion of capital will enable PAYDAY to further develop its services and expand into a financial and insurance aggregator, providing a broader range of financial solutions to its target market.
The pre-seed funding round represents a pivotal step in PAYDAY’s journey. With the support of its investors, the startup is well-positioned to capitalize on the growing demand for accessible and inclusive financial services in Tunisia and across the African continent.
Keywords
Related Keywords: Payday, Tunisian Fintech, Fintech funding, 3M valuation, TechMoran, Tunisian startups, Fintech investment, North Africa, Seed funding, Financial technology
