MENA-focused and Cairo-based payroll and financial wellness platform NowPay has raised USD 20 million in fresh investment to accelerate product development, expand its team, and launch operations in Saudi Arabia, one of the region’s fastest-growing fintech markets.
The expansion will be executed through NowAccess, a newly formed joint venture with Tas’heel, a subsidiary of United International Holding Company (UIHC).
The move speaks NowPay’s strategic push into payroll-linked, Shariah-compliant financial solutions tailored to the Saudi market, combining its fintech infrastructure with deep local operational expertise.
“Partnering with Tas’heel allows us to bring our proven technology into a high-growth market with the right local expertise,” said Mostafa Ashour, CEO and Co-founder of NowPay.
This founder’s statement underscores the company’s confidence in Saudi Arabia’s fintech and HR technology potential.
What Is NowPay and What Does It Do?
Founded in 2019, NowPay is a payroll and financial wellness platform serving enterprises across the Middle East and North Africa (MENA).
At its core, the platform enables businesses to manage payroll processing while offering employees greater financial flexibility and control over their earnings.
Beyond salary disbursement, NowPay provides earned wage access, allowing employees to access a portion of their income before payday, as well as broader financial wellness solutions designed to reduce financial stress and improve money management.
By working directly with employers, the company commands itself as a bridge between corporate payroll systems and employee financial wellbeing, helping organisations support their workforce without increasing operational complexity.
A Strategic Expansion into Saudi Arabia
Saudi Arabia represents a high-growth opportunity for fintech companies due to its large workforce, rapidly digitising economy, and supportive regulatory environment.
To enter the market effectively, NowPay has chosen a partnership-led approach, launching its Saudi operations through NowAccess, a joint venture with Tas’heel.
This collaboration allows NowPay to align its technology with local regulatory requirements while benefiting from Tas’heel’s established footprint in consumer finance.
The expansion reflects a long-term commitment to the Kingdom rather than a short-term market entry, positioning NowPay to play a sustained role in Saudi Arabia’s evolving payroll and HR technology ecosystem.
NowAccess: Bridging Fintech Infrastructure and Local Expertise
NowAccess will serve as the operational vehicle for NowPay’s Saudi ambitions, focusing on payroll administration and processing services across the Kingdom.
The venture combines NowPay’s fintech infrastructure with Tas’heel’s strong local presence and operational capabilities, creating a platform designed specifically for Saudi employers and employees.
According to Mohamed Galal, eXtra Managing Director & CEO and Tas’heel Acting CEO, the partnership represents a natural evolution of Tas’heel’s financial services offering.
“Through Tas’heel, we’ve built a strong foundation in consumer finance, and the launch of NowAccess marks a strategic expansion into payroll-linked Shariah-compliant financial products,” he said.
He added that the collaboration “strengthens our proposition and allows us to serve both employers and employees with innovative, accessible, and tech-driven solutions tailored to the Saudi market.”
Focus on Shariah-Compliant, Payroll-Linked Financial Solutions
A key pillar of NowPay’s Saudi strategy is the development of payroll-linked, Shariah-compliant financial products, an essential requirement in the Kingdom’s financial ecosystem.
These solutions are designed to align with Islamic finance principles while remaining practical and accessible for both employers and employees.
By integrating payroll systems with compliant financial tools, NowPay and NowAccess aim to offer ethical alternatives to traditional credit, helping employees meet short-term financial needs without resorting to interest-based products.
This approach not only reflects regulatory and cultural alignment but also positions the company as a responsible fintech player in the Saudi market.
How the $20 Million Funding Will Be Used
The newly raised USD 20 million will be deployed across several strategic areas. NowPay plans to invest heavily in product development, ensuring its platform remains scalable, secure, and adaptable to different regulatory environments.
A portion of the funding will also go toward team expansion, strengthening engineering, compliance, and go-to-market capabilities.
In addition, the capital will support market entry and execution in Saudi Arabia, including the rollout of NowAccess and the localisation of services for employers operating in the Kingdom.
These investments reflect NowPay’s intention to build sustainable infrastructure rather than pursue rapid but shallow expansion.
Strengthening the Fintech and HR Tech Landscape in the Kingdom
The launch of NowAccess represents more than a geographic expansion; it signals a broader ambition to contribute to innovation in Saudi Arabia’s fintech and HR technology sectors.
The joint venture is framed as a long-term collaboration aimed at modernising payroll systems, improving employee financial wellbeing, and supporting businesses with compliant, tech-driven solutions.
By combining global fintech expertise with strong local partnerships, NowPay is positioning itself to become a key player in the Kingdom’s digital transformation journey, particularly at the intersection of payroll, financial wellness, and ethical finance.
Talking Points
NowPay’s $20 million raise and entry into Saudi Arabia through the NowAccess joint venture reflects a calculated and mature expansion strategy that goes beyond simple market penetration to address structural realities in the Kingdom’s financial ecosystem.
By anchoring its Saudi rollout on payroll-linked, Shariah-compliant financial products and partnering with Tas’heel, a player with established consumer finance credibility and local operational depth, NowPay reduces regulatory friction while increasing its chances of trust and adoption among employers and employees.
The focus on earned wage access and financial wellness tied directly to payroll positions the company at a critical intersection of HR technology and ethical finance, where demand is growing but solutions remain limited.
However, success will depend on execution: scaling compliant products while maintaining affordability and seamless employer integration in a highly regulated market is complex.
If NowPay can balance innovation with cultural and regulatory alignment, the move could strengthen its regional leadership and contribute meaningfully to kingdom’s fintech and workforce modernisation goals.
______________________
Bookmark Techparley.com for the most insightful technology news from the African continent.
Follow us on X/Twitter @Techparleynews, on Facebook at Techparley Africa, on LinkedIn at Techparley Africa, or on Instagram at Techparleynews
