Egyptian FIntech NowPay Raises USD 20 M To Enter Saudi Arabia via Tasheel JV
NowPay, an Egyptian payroll and financial wellness fintech founded in 2019 by Mustafa Ashour, has secured a USD 20 M investment to expand into Saudi Arabia through a joint venture with United International Holding Company (UIHC), owner of consumer finance brand Tasheel. The deal brings NowPay’s total funding to USD 31 M.
The Saudi entity, NowAccess, will be 75% owned by Tasheel, with NowPay retaining 25%. The capital will fund local engineering, operations, product localisation, and market entry. By partnering with Tasheel, Saudi Arabia’s second-largest consumer finance provider, NowPay avoids regulatory bottlenecks that often slow foreign fintechs.
NowPay provides payroll infrastructure, earned wage access (EWA), and salary-linked financial products. In Saudi Arabia, NowAccess will focus on payroll processing, on-demand wages, and Sharia-compliant financial services, positioning the company for rapid, partnership-led scale.
