Tunisian fintech PAYDAY has secured $3 million in its first pre-seed funding round, led by UGFS North Africa with TALYS Group and BioProtection SA, to transform how workers access financial services digitally.
The funding will support digital loans and micro-Takaful insurance for low- and mid-income employees across Tunisia and the wider North African region.
Launched in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY partners with banks, insurers, and employers to provide salary-backed loans and Sharia-compliant microinsurance.
Micro-Takaful enables workers to access small, affordable protection against unexpected events while avoiding interest and gambling, creating a safety net for employees.
Since its launch, PAYDAY has processed over 10,000 transactions worth 8.2 million Tunisian dinars, validating its business model.
The platform aims to become a regional hub for inclusive finance, offering businesses and workers affordable digital access to loans, insurance, and other financial services.
The pre-seed funding will allow PAYDAY to expand its platform with additional banks, microfinance institutions, and insurance providers, scale operations across Tunisia and North Africa, improve financial wellness programs for employees and enhance payroll efficiency for employers.
It will also allow building single-point solution for payroll-backed financial services, combining credit, insurance, and education.
PAYDAY’s holistic approach benefits both workers and employers: employees can manage financial crises effectively, while employers boost productivity and fulfill corporate social responsibility by improving staff welfare.
With this funding, PAYDAY is positioning itself as a regional standard for financial inclusion, targeting both formal and informal workers who traditionally lack access to banking and insurance.
The platform’s growth will increase users, expand infrastructure, and deepen financial access while promoting financial literacy and reducing debt risk.
