PAYDAY

PAYDAY, also referred to as PAYDAY Takaful, is a Tunisian fintech and insurtech startup founded in 2024. It works with employers, banks and insurers to offer low- and middle-income employees salary-backed financing combined with micro-takaful (Islamic insurance) cover. The company describes its product as interest-free salary advances repaid through payroll, a model often called earned wage access. In October 2025 PAYDAY announced a first pre-seed round led by UGFS North Africa, with TALYS Group and BioProtection also investing. Wamda reported that the round valued the company at $3 million; the amount raised was not disclosed. At the time, the company said it had processed more than 10,000 transactions worth over TND 8.2 million since its 2024 launch; these figures come from the company and have not been independently verified. PAYDAY said it planned to grow into a financial and insurance aggregator bringing together banks, microfinance institutions and insurers. Public sources do not name its partner banks or insurers, and none mention a licence of its own; it should be understood as a distribution and technology layer working with licensed institutions.