PAYDAY, a Tunisian fintech and insurtech startup, has successfully secured its first pre-seed funding round led by UGFS North Africa, with participation from TALYS Group and BioProtection SA, valuing the company at $3 million. Founded in 2024, PAYDAY is pioneering an integrated model that combines salary-backed financing with micro-Takaful protection, positioning itself at the forefront of innovation in the financial inclusion and digital insurance space in North Africa.
The startup is transforming access to financial services by offering employees and businesses a simplified, inclusive platform for managing financial needs while promoting Islamic-compliant micro-insurance. With over 10,000 transactions processed and a volume exceeding 8.2 million Tunisian dinars, PAYDAY has already demonstrated strong traction and market validation within its first year of operation.
According to Co-founder and CEO Dr. Mohamed Anouar Gadhoum, the successful funding round brings together strategic investors from venture capital, technology, and industry, reinforcing PAYDAY’s ability to scale rapidly and expand its innovative products. This backing will enhance the company’s infrastructure, strengthen its product roadmap, and widen its reach across the region.
Looking ahead, PAYDAY aims to transition into a comprehensive financial and insurance aggregator, connecting banks, microfinance institutions, and insurers under a single digital platform. This strategic move will enable PAYDAY to serve not only businesses but also individual consumers directly, further accelerating financial inclusion in the region.
This milestone marks a significant step for Tunisia’s growing fintech ecosystem, reflecting investor confidence in PAYDAY’s model and its potential to reshape the financial services landscape across Africa through accessibility, innovation, and social impact.
