Tunisia’s PAYDAY Raises $3 Million Pre-Seed Round for Fintech Growth

Tunisian fintech-insurtech startup PAYDAY has raised $3 million in a pre-seed funding round led by UGFS North Africa, with participation from TALYS Group and BioProtection SA. The round values the company at $3 million, marking a key step in its plan to expand financial and insurance access across Tunisia and the wider MENA region. Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY connects insurers, banks, employers, and employees through a digital platform that offers salary-backed financing and micro-Takaful insurance products. The startup’s model aims to improve financial wellness for low- and middle-income workers by providing accessible, ethical financial solutions. Since its launch, PAYDAY has processed more than 10,000 transactions, with total volumes exceeding 8.2 million Tunisian dinars, underscoring its traction in local markets. With this new capital, the company plans to evolve into a regional aggregator of financial wellness services, integrating banks, microfinance institutions, and insurers to create a unified system for employers and employees.