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Tunisia’s PAYDAY Raises $3 Million to Digitally Transform Worker Finance
Tunisia’s PAYDAY raises $3 million to transform worker finance in a big way. This young Tunisian fintech company, PAYDAY, has just raised $3 million in its first pre-seed funding round. The money comes from UGFS North Africa, TALYS Group, and BioProtection SA. This funding will help PAYDAY grow and offer better digital financial services to workers not just in Tunisia but across the whole North African region.
PAYDAY was started in 2024 by two founders, Mohamed Anouar Gadhoum and Shaher Abbas. Their goal is simple: to help regular workers, especially those earning low and middle incomes, get easier access to loans and insurance through digital tools. To do this, Tunisia’s PAYDAY works with banks, insurance companies, and employers. They offer salary-backed loans and a special kind of insurance called micro-Takaful that helps workers protect themselves against risks without complicated or expensive policies.
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Micro-Takaful is a type of Islamic insurance that works a bit differently from regular insurance. Instead of paying interest or gambling on losses, workers pool money together to help each other in times of emergency. This makes it fair, affordable, and compliant with religious rules. People using PAYDAY get protection against unexpected problems and can borrow small, interest-free loans that are paid back through their salary.
Since launching, Tunisia’s PAYDAY has made over 10,000 transactions worth more than 8.2 million Tunisian dinars. This shows growing trust in their services and that many workers need these kinds of digital finance options.
With the $3 million they raised, Tunisia’s PAYDAY plans to improve its digital platform and add more banks and insurance companies. This will give workers and businesses access to more financial tools, all from one place. Employers benefit too because the platform helps with smooth payroll processing while giving workers better financial support, which can boost productivity and workplace satisfaction.
Tunisia’s PAYDAY raises $3 million at a crucial time. They want to expand beyond Tunisia to cover the whole North Africa region. Their mission is to include informal workers—the ones usually ignored by banks and traditional insurers—giving them access to financial services they badly need.
This funding will help PAYDAY grow their user base and improve their technology. By bringing together various financial services in a simple platform, they make it easier for companies and employees to get payroll-backed loans and insurance products without struggling through complicated systems.
The startup’s approach makes finance easier and safer for low- and medium-income households. It also supports financial education and reduces risks tied to debt. People get help managing unexpected expenses without getting trapped in costly borrowing.
More than just a company, Tunisia’s PAYDAY is building a strong network that connects banks, businesses, and insurers. With over 10,000 transactions so far, people clearly want this kind of service. Now, with their new funding, PAYDAY is ready to grow bigger, reach more users, and serve new locations across the region.
Tunisia’s PAYDAY raises $3 million to transform how workers access finance digitally, and this is a big step toward better, easier, and fair financial services for workers and businesses in Tunisia and beyond.
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