UAE-based fintech NOW Money has closed a $4 million equity round. The investment completes the second round of funding for the Company since its acquisition led by Mark Nutter and Nicolas Andine in 2023.
Founded in 2015 by Ian Dillon and Katharine Budd, NOW Money is a banking and payroll FinTech, dedicated to providing safe and secured digital banking solutions for low-income workers in the Gulf Cooperation Council (GCC) region. It also facialites peer-to-peer (P2P) remittances.
Nicolas Andine, CEO at NOW Money, said ,“We are thrilled to have secured this investment, which underscores the confidence in NOW Money’s vision and potential positive socio-economic impact.”
He said that the funding will be instrumental in accelerating the company’s growth trajectory, fueling innovation and advancing its mission of financial inclusion. “With the support of our investors, we are poised to make significant strides in expanding our reach and enhancing the accessibility of banking services for low-income individuals in the GCC region.”
NOW Money is known for its innovative and transparent approach to addressing the financial needs of underserved populations. By leveraging cutting-edge technology, the company provides migrant workers with access to essential banking services, including remittances, bill payments, and savings accounts, all through a user-friendly mobile application available in multi language options.
The company also provides in person financial literacy training to show its commitment to driving safe and secured financial education in the region for the most vulnerable.
“We believe in the transformative potential of NOW Money’s innovative approach to financial inclusion,” said a representative from the undisclosed investor. “We are excited to partner with NOW Money on their journey to empower underserved communities with access to essential financial services. This investment reflects our confidence in NOW Money’s ability to drive positive change and create lasting impact.”