Tunisian insurtech startup PAYDAY has closed a pre-seed financing round that values the company at US$3 million.
Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY connects insurers, banks and employers to empower low- and medium-income workers with financial solutions, helping them increase productivity and improve their financial stability through a fully digital solution.
The startup’s pre-seed funding round was led by UGFS North Africa, with participation from TALYS Group and BioProtection SA, and values PAYDAY at US$3 million.
“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.”
PAYDAY has so far recorded over 10,000 transactions, representing a volume exceeding TND8.2 million (US$2.8 million). It will utilise the funding to expand into a financial and insurance aggregator, integrating banks, microfinance institutions, and insurers to offer inclusive services not only to businesses but also to employees and individuals directly.
TunisianMonitorOnline (Editorial Staff)
