TUNISIA – PAYDAY, a Tunisian fintech and insurtech startup, has successfully closed its first pre-seed financing round led by UGFS North Africa (United Gulf Financial Services), with participation from TALYS Group and BioProtection SA, valuing the company at $3 million.
Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY connects insurers, banks, and employers to provide low- and middle-income workers with accessible financial solutions. The platform aims to enhance employee productivity and financial stability through a fully digital ecosystem that combines salary-backed financing with micro-Takaful protection.
“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 its launch, PAYDAY has processed over 10,000 transactions, representing a volume of more than 8.2 million Tunisian dinars, demonstrating the effectiveness of its financial model.
Building on this momentum, PAYDAY is now expanding into a financial and insurance aggregator, integrating banks, microfinance institutions, and insurers to offer inclusive financial services not only to businesses but also directly to employees and individuals.
With this strategic evolution, PAYDAY aims to position itself as a regional benchmark platform for financial wellness and inclusive protection, contributing to a more accessible and resilient financial ecosystem across North Africa.
