• Partners
  • Privacy Policy
  • About Us
  • Contact Us
  • Submit an Article
Sunday, June 22, 2025
Digital Boom
  • News
  • Startups
  • Marketing
    • Digital Advertising
    • Insights
  • Campaigns
  • Tech
  • Guides
  • Market Watch
  • More
    • Careers
    • Ramadan Specials
    • Culture
    • Travel
    • Glossary
No Result
View All Result
  • News
  • Startups
  • Marketing
    • Digital Advertising
    • Insights
  • Campaigns
  • Tech
  • Guides
  • Market Watch
  • More
    • Careers
    • Ramadan Specials
    • Culture
    • Travel
    • Glossary
No Result
View All Result
Digital Boom
No Result
View All Result
Home News

NowPay Raises US$2.1 Million in Seed Investment

Ahmed Maher by Ahmed Maher
October 11, 2020
in News, Startups
10
Financial-wellness Startup 'NowPay' Raises US$2.1 Million in Seed Investment

Financial-wellness Startup 'NowPay' Raises US$2.1 Million in Seed Investment

353
VIEWS

Cairo-based FinTech startup NowPay, a financial-wellness platform for employees in emerging markets, has announced today that the company has raised US$ 2.1 million in seed investment. The new fund will be deployed to deepen the platform’s capabilities, expand its team, and establish its footprint in the MENA region and beyond.

The round was led by Foundation Ventures and Endure Capital and investors from the U.S., UAE, China, and Egypt. The investors’ cluster includes BECO Capital, 500 Startups, Plug and Play, 4dx Ventures, MSA Capital, EFG-EV Fintech, and Ebtikar. Prominent Angel investors such as Quirky Ventures, Gehan Fathi, and Rolaco also participated in the round.

“During the peak of COVID-19 lockdowns, we are proud to have well-known and eminent investors back us, signaling trust in our business concept and our team. Saving, spending, budgeting, and borrowing are our four pillars of financial wellness. Financial stress plays a major role as a top distraction for employees. NowPay bridges that gap and provides several benefits for employers that choose to address this area of employee wellness proactively. Particularly in recent months, NowPay helped empower both the employees and employers alike. We want to improve every financial aspect for employees and make financial inclusion a reality,” said Mostafa Ashour, Co-founder, and CEO of NowPay, who previously led the innovation teams at Microsoft Research.

Founded in 2019, NowPay has a very enthusiastic and well-experienced team. Led by Mostafa Ashour, the team includes co-founder Ahmed Sabry, who worked for Amazon Lending, Gehan Fathi, previously worked as managing director at EFG, and Mahmoud ElHosseiny, who managed Egypt sales for Fortune 500 Stanley-Black & Decker.

“There is an asymmetry between expenses and income, which puts a lot of stress on employee’s morale, and hampers productivity. We are thrilled to join NowPay’s incredible team on this journey of empowering employees with the happiness and wellness that financial stability provides,” said Ziyad Hamdy, Managing Partner at Foundation Ventures.

“Within a concise period, we are delighted to have managed salaries over US$100 million with a 60% month-over-month growth rate. We have integrated our platform with leading Egyptian and multinational names such as SODIC, Wadi Degla, Domty, and AXA, with naming a few, a testament of our ability to help employees’ financial wellness for our clients. We have a robust pipeline with many more big names waiting to onboard our platform, and we look forward to forging ahead as pioneers in this space,” added Mr. Ashour.

Join Our Community

Previous Post

Cairo-based Last-mile Delivery Startup ‘dreevo’ Raises 6 Digits USD Figure

Next Post

instaConsult Launches Personal Consultation via Whatsapp

Ahmed Maher

Ahmed Maher

Ahmed Maher is a marketing and growth leader with a proven track record across telecom, fintech, publishing, charity, government, e-commerce, and sports. He launched Vodafone Egypt’s digital and social media presence in 2008, setting new standards for brand engagement and performance marketing in the region. As the founder of Digital Boom, Ahmed has helped shape the voice of digital media in the Arab world. He brings a rare blend of creative vision and data-driven thinking, using digital tools and storytelling to drive measurable impact and scalable growth.

Related Stories

Germany Begins Government-Wide Exit from Microsoft Software
News

Germany Begins Government-Wide Exit from Microsoft Software

June 14, 2025
Builder.ai Ceases Operations After $1.3 Billion Valuation Collapse
News

Builder.ai Shuts Down After Layoffs and Investor Pullout

May 26, 2025 - Updated on May 28, 2025
Thndr Raises $15.7M to Expand into Wealth Management in MENA
Startups

Thndr Raises $15.7M to Expand into Wealth Management in MENA

May 26, 2025
Nawy Raises $75M to Accelerate Real Estate Tech in MENA
Startups

Nawy Raises $75M to Accelerate Real Estate Tech in MENA

May 18, 2025
Inside Radi Farms: The Agritech Startup Reshaping Egypt’s Food Supply Chain
Startups

Inside Radi Farms: The Agritech Startup Reshaping Egypt’s Food Supply Chain

April 7, 2025 - Updated on May 27, 2025
Jordan’s U.S. Foreign Aid: 2025 Budget Cuts and Their Regional Impact
News

Jordan’s U.S. Foreign Aid: 2025 Budget Cuts and Their Regional Impact

March 20, 2025
5 Digital Marketing Strategies That Actually Matter in 2025

Top 5 Digital Marketing Strategies Winning MENA in 2025

June 22, 2025
The Labubu Effect: How a Toothy Toy Sparked a Global Obsession

The Labubu Effect: How a Toothy Toy Sparked a Global Obsession

June 20, 2025
How to recover your hacked Facebook account?

How to Recover a Hacked Facebook Account

June 18, 2025 - Updated on June 20, 2025
Best Restaurants and Steak Houses in Amman

10 Best Restaurants and Steakhouses in Amman

June 18, 2025
Winter in Jordan: 10 Best Places to Visit

10 Best Places to Visit in Jordan During Winter

June 18, 2025
Germany Begins Government-Wide Exit from Microsoft Software

Germany Begins Government-Wide Exit from Microsoft Software

June 14, 2025
  • Partners
  • Privacy Policy
  • About Us
  • Contact Us
  • Submit an Article

© 2025 Digital Boom, Inc.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
  • Startups
  • Marketing
    • Digital Advertising
    • Insights
  • Campaigns
  • Tech
  • Guides
  • Market Watch
  • More
    • Careers
    • Ramadan Specials
    • Culture
    • Travel
    • Glossary

© 2025 Digital Boom, Inc.