Tunisian insurtech startup PAYDAY has closed a pre-seed financing round that places its valuation at US$3 million, marking a major milestone for the young fintech firm founded in 2024.
The round was led by UGFS North Africa, with participation from TALYS Group and BioProtection SA, reflecting growing investor confidence in Tunisia’s emerging digital financial ecosystem.
“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.
“This alliance strengthens PAYDAY’s ability to develop its services and ensure the scalability of this innovative solution, serving businesses and their employees.
What PAYDAY Does
Founded by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY operates at the intersection of insurance, banking, and employment services.
The startup connects insurers, banks, and employers to deliver financial solutions for low- and medium-income workers, a group often overlooked by traditional financial institutions.
By providing workers with easier access to digital financial tools, PAYDAY aims to help them boost productivity, improve financial stability, and reduce dependence on informal financial systems.
The company’s model supports a growing regional movement toward inclusive fintech, offering workers pathways to better manage salaries, access insurance, and save for the future, all within a single, digital environment.
How PAYDAY Offers Its Services
PAYDAY’s platform serves as a fully digital bridge between financial institutions and the workforce. Through its system, employers can seamlessly link their employees to tailored financial and insurance products provided by partnering banks and insurers.
Since its launch, PAYDAY has processed over 10,000 transactions, with a total transaction volume exceeding TND 8.2 million (US$2.8 million).
These figures highlight the company’s early traction and the growing appetite for digital financial solutions among Tunisia’s working population.
The startup plans to evolve into a financial and insurance aggregator, integrating banks, microfinance institutions, and insurers to create a unified service ecosystem.
This next step, according to its founders, will allow PAYDAY to extend its reach beyond businesses to individual customers, empowering them with more control and access to essential financial services.
Why the Funding Matters
The newly secured investment marks a turning point for PAYDAY, giving it the financial strength and strategic partnerships needed to scale its operations across North Africa and beyond.
The participation of diverse investors, a venture capitalist, a technology firm, and an industrial group, speaks strong cross-sectoral confidence in PAYDAY’s business model and impact potential.
According to CEO Gadhoum, the funding will “ensure the scalability of this innovative solution,” enabling PAYDAY to develop more robust digital tools and expand its service delivery capacity.
As fintech continues to drive financial inclusion across Africa, PAYDAY’s growth trajectory positions it as a key player in transforming how workers and institutions interact with financial services, bridging the gap between technology, employment, and economic empowerment.
Talking Point
PAYDAY’s $3 million valuation at the pre-seed stage underscores a growing investor appetite for digital financial inclusion models emerging from North Africa, especially those targeting low- and middle-income earners often excluded from formal financial systems.
The startup’s model, bridging insurers, banks, and employers, reflects a strategic alignment with Africa’s broader fintech trend of integrating underserved demographics into the digital economy through accessible, mobile-driven platforms.
Its early transaction volume of TND 8.2 million (US$2.8 million) and over 10,000 transactions demonstrate both traction and latent demand for such services in Tunisia’s evolving financial landscape.
By positioning itself as a future aggregator of financial and insurance services, PAYDAY is not merely offering a product but redefining how financial ecosystems can converge to empower workers and improve institutional efficiency.
In essence, this funding marks more than a startup milestone; it represents a broader validation of Africa’s shift toward tech-enabled financial inclusion and the economic empowerment of its labor force.
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