PAYDAY, a Tunisian fintech and insurtech startup, has announced the successful close of its first pre-seed funding round led by UGFS North Africa (United Gulf Financial Services). TALYS Group and BioProtection SA also took part in this round. The investment values PAYDAY at $3 million.
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PAYDAY was founded in 2024 and combines salary-backed financing and micro-Takaful protection. It offers employees and businesses a more accessible way to manage financial needs while promoting inclusion in the insurance sector.
“This new round of funding brings together a venture capitalist, a leading technology player, and a strong industrial group,” said Dr. Mohamed Anouar Gadhoum, Co-founder and CEO of PAYDAY Takaful. “This alliance strengthens PAYDAY’s ability to develop its services and ensure the scalability of this innovative solution, serving businesses and their employees.”
Since launching, PAYDAY has processed over 10,000 transactions, representing a volume exceeding 8.2 million Tunisian dinars, a validation of its financial model and growing market traction.
PAYDAY plans to evolve into a financial and insurance aggregator, connecting banks, microfinance institutions and insurers on one platform. This expansion aims to extend services beyond businesses to reach employees and individuals directly.
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