- Tunisian fintech PayDay raised USD 3M pre-seed led by UGFS, with TALYS and Bioprotection joining the funding round.
- Founded in 2024, PayDay digitizes salary advances and group insurance, easing financial burdens while boosting employee productivity and well-being.
- The funding will support regional expansion, scale ethical financial services, and strengthen PayDay’s impact on low- and middle-income earners.
PayDay
Tunisian fintech company PayDay raised USD 3 million in a pre-seed investment round. The round was led by United Gulf Financial Services (UGFS). It also saw participation from other investors including TALYS and Bioprotection.
Founded in 2024 by Mohamed Anwar Kadoum PAYDAY is a platform specializing in digitizing salary advance requests and group employee insurance. It aims to help companies reduce financial and administrative burdens. Additionally, it seeks to enhance employee productivity and financial well-being through innovative, interest-free, and credit-free solutions.
Financial Protection
Up next with this funding round, it aims to scale its growth and impact. It seeks to pave the path for local and regional expansion. It also aims to solidify its position in ethical financial services. Additionally, it aims to strengthen its technological infrastructure and expand its reach to new segments of business and employees.
“The primary goal of PAYDAY is to provide financial protection and improve the economic well-being of low- and middle-income earners through solutions that combine insurance with cooperative finance,” said Dr. Mohamed Anwar Kadoum, Co-Founder and CEO of PAYDAY.
Bottom Line: PayDay’s pre-seed funding positions the company for regional expansion while maintaining its focus on ethical and inclusive financial services.
With the investment, it aims to strengthen its technology infrastructure, improving efficiency and accessibility for both businesses and employees. Furthermore, it remains committed to offering interest-free, credit-free financial solutions that enhance employee financial well-being and reduce administrative burdens.
With this growth, PayDay aims to solidify its role as a key player in Tunisia’s emerging fintech ecosystem.
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