Egyptian fintech startup NowPay has taken a giant step toward growing beyond North Africa, with its latest entry into Saudi Arabia through a $20 million joint venture that positions the company at the heart of one of the Middle East’s largest payroll markets.
Founded in 2019 by Egyptian entrepreneur Mostafa Ashour, NowPay built its reputation by offering payroll-linked financial wellness tools that allow employees to access earned wages before payday.
The model, often referred to as earned wage access, has gained traction among employers seeking to improve staff retention while easing short-term financial pressure on workers.
The Saudi expansion will be executed through NowAccess, a newly formed joint venture with Tas’heel, the consumer finance arm of United International Holding Company.
Under the deal, Tas’heel has invested $20 million and will hold a 75% stake, while NowPay will retain a 25% stake. The transaction brings the Egyptian Fintech’s total funding to $31 million, following a memorandum of understanding signed earlier in 2025.
Mostafa Ashour, founder and CEO of NowPay, emphasised that Saudi Arabia represents both growth and strategic alignment.
The Kingdom is home to millions of salaried workers and a rapidly digitising payroll ecosystem, driven by labour reforms and employer demand for modern HR-linked financial services.
“This joint venture allows us to enter Saudi Arabia in a way that is both capital-efficient and deeply local. By partnering with Tas’heel, we are combining our payroll technology with a strong on-the-ground presence to deliver financial wellness solutions that work for employers and employees alike,” he said.
Crucially, the move carries implications for the large Egyptian workforce in Saudi Arabia, many of whom support families back home through remittances.
By improving access to earned wages, NowPay’s platform could help smooth income volatility for expatriate workers, reduce reliance on informal borrowing, and strengthen cross-border financial resilience between Egypt and the Gulf.
NowPay’s Saudi expansion reflects a broader trend across Africa and the Gulf, where fintech growth is increasingly driven by embedded finance, employer partnerships and regulated local alliances rather than standalone consumer apps.
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