Arab Finance: Egypt-based fintech NowPay is expanding into Saudi Arabia through NowAccess, a new joint venture established in partnership with Tas’heel, the consumer finance arm of United International Holding Company.
The expansion is supported by a $20 million investment from Tas’heel, which will own 75% of the venture, while NowPay will retain a 25% stake. The deal brings NowPay’s total funding to $31 million.
The new capital will be allocated toward building engineering and operations teams within Saudi Arabia, adapting products to local market requirements, and supporting the commercial launch of NowAccess. The venture is currently in its market-entry phase, with announcements related to employer partnerships expected as part of its formal rollout.
Under the new venture, NowPay will contribute its technology platform and experience in payroll-linked financial products, while Tas’heel will provide local market expertise, a shariah-compliant balance sheet, and access to its network of more than 310 service locations across Saudi Arabia.
“Saudi Arabia represents a high-growth market for payroll and employee financial solutions,” said Mostafa Ashour, CEO and Co-founder of NowPay. “NowAccess gives us the operating depth and local expertise required to scale quickly and compliantly, while bringing our proven technology to employers and employees across the Kingdom.”
Founded in 2019 by Mostafa Ashour, NowPay operates in the employee financial wellness space, enabling workers to access a portion of their earned salaries before payday through employer-integrated payroll solutions. The company has developed and deployed these products across several markets in the Middle East and North Africa region.
The partnership follows a memorandum of understanding (MoU) signed between the two companies in early 2025 and is intended to introduce a range of payroll, HR, and payroll-linked shariah-compliant financial services to the Saudi market.
The partnership structure is also designed to provide a local foundation for growth, enabling NowAccess to navigate regulatory and operational requirements through an established Saudi partner. Through the venture, the companies plan to deliver solutions tailored to Saudi employers' needs while expanding access to payroll-linked financial services for employees.
