Tunisian insurtech startup PAYDAY has successfully closed a pre-seed funding round that places the young company at a US$3 million valuation, marking a significant vote of confidence in its mission to transform access to financial services for underserved workers.
Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY offers a fully digital platform designed to connect insurers, banks, and employers. The goal is to provide low- and middle-income employees with accessible financial tools that enhance their productivity, support financial well-being, and improve long-term stability. By digitizing the entire process, PAYDAY aims to remove traditional barriers that often limit workers’ access to essential financial and insurance services.
The pre-seed round was led by UGFS North Africa, alongside participation from TALYS Group and BioProtection SA, bringing together investors from venture capital, technology, and industrial sectors.
“This funding brings together a venture capitalist, a technology leader, and a strong industrial partner,” said co-founder and CEO Dr. Mohamed Anouar Gadhoum. “This alliance reinforces PAYDAY’s capacity to scale its services and enhance the reach of our innovative solution for businesses and their employees.”
To date, PAYDAY has recorded over 10,000 transactions, representing a financial volume exceeding TND 8.2 million (US$2.8 million). With this new investment, the company plans to expand its model into a comprehensive financial and insurance aggregator. This expansion will integrate multiple financial players — including insurers, microfinance institutions, and banks — enabling PAYDAY to offer inclusive services not only to corporate clients but also directly to individual users across Tunisia and beyond.
