NowPay raises a $20M Investment to Launch Saudi Arabia Operations

NowPay, the MENA region's leading payroll and financial wellness platform which has now raised a total of $31 million, is proud to announce a strategic $20 million investment to launch its Saudi operations through a newly established joint venture - NowAccess - in partnership with United International Holding Company (UIHC) - Tas'heel.

Fintech Infrastructure

NowAccess is focused on delivering cutting-edge payroll administration and processing services across the Kingdom of Saudi Arabia, combining NowPay's proprietary fintech infrastructure with Tas'heel's strong local presence and operational capabilities.

The newly formed company represents a long-term strategic collaboration between both parties to drive innovation in the Kingdom's rapidly evolving fintech and HR technology landscape.

Major Milestone

This investment marks a major milestone for NowPay's regional expansion into the Kingdom the largest economy in the Middle East. The $20 million will be allocated toward product development, team building, and go-to-market execution. The partnership reflects NowPay's long-term commitment to the Saudi market and the strength of collaboration with a trusted local partner.

Partnership

Mohamed Galal, eXtra MD & CEO and Tas' heel Acting CEO, stated: "We see significant potential in this partnership to unlock new value in the financial services landscape. Through Tas'heel, we've built a strong foundation in consumer finance, and the launch of Now Access marks a strategic expansion into payroll-linked Shariah-compliant financial products."

He added "This addition strengthens our proposition and allows us to serve both employers and employees with innovative, accessible, and tech-driven solutions tailored to the Saudi market. This step is fully in line with the Kingdom's Vision 2030, which emphasizes digital transformation, financial wellness, and empowering individuals through more accessible financial services."

Proven Technology

Mostafa Ashour, CEO and Co-founder of NowPay, added: "This is a signal of confidence in our product, our team, and our mission. Partnering with Tas'heel allows us to bring our proven technology into a high-growth market with the right local expertise. We believe Saudi Arabia is on the brink of a payroll and HR tech transformation, and NowPay is ready to lead it."

Lead Innovation

NowPay continues to lead innovation in payroll, earned wage access, and financial wellness, currently serving hundreds of thousands of employees across MENA. The launch of Now Access represents the next step in its evolution as a regional fintech leader.

Source: Press Release