PAYDAY, a Tunisian fintech and insurtech startup, has raised its first pre-seed financing round at a $3 million valuation.
The round was led by UGFS North Africa (United Gulf Financial Services), with participation from TALYS Group and BioProtection SA.
According to Dr. Mohamed Anouar Gadhoum, Co-founder and CEO of PAYDAY Takaful, ‘“This new round of funding brings together a venture capitalist, a leading technology player, and a strong industrial group,. This alliance strengthens PAYDAY’s ability to develop its services and ensure the scalability of this innovative solution, serving businesses and their employees.”
Launched in 2024, PAYDAY has recorded over 10,000 transactions and the fundraising round values the company at $3 million. The startup combines salary-backed financing and micro-Takaful protection to foster financial well-being and inclusion across Tunisia and beyond.
Building on this momentum, PAYDAY is expanding into a financial and insurance aggregator, integrating banks, microfinance institutions, and insurers to offer inclusive services not only to businesses but also to employees and individuals directly.
Through this evolution, PAYDAY aims to become a regional benchmark platform for financial well-being and inclusive protection, contributing to a more accessible and resilient financial ecosystem in North Africa.