Financial inclusion meets insurance in Tunisia.
PayDay Takaful is a Tunisian insurtech that connects insurers, banks, and employers to offer salary-linked advances bundled with micro-Takaful insurance.
Founded in 2024 by Mohamed Anouar Gadhoum, PHD, CSAA, CIIFP, and Shaher Abbas, PhD, CSAA, the platform empowers low- and middle-income workers to access liquidity and protection.
It recently closed a pre-seed financing round valuing the company at $3M, led by UGFS North Africa with participation from TALYS Group and BioProtection SA.
PAYDAY has already processed over 10,000 transactions worth about TND 8.2 million (US $2.8M) and plans to evolve into a regional aggregator connecting banks, microfinance institutions, and insurers.
With Africa's wage-advance market underserved, PAYDAY could bring Sharia-compliant embedded finance to millions. Will insurtechs lead the next wave of financial inclusion?
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Photo source: Startup Researcher
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