NowPay Enters Saudi Market With $20M Tas’heel Partnership

Cairo-based fintech NowPay is entering Saudi Arabia through a new joint venture with Tas’heel, the consumer finance arm of United International Holding Company, as demand grows in the Kingdom for modern payroll, HR, and employee financial infrastructure.

The joint venture, branded NowAccess, is backed by a $20 million investment from Tas’heel, which will hold a 75% stake in the company. NowPay will retain the remaining 25%. The partnership positions NowAccess to deliver payroll, HR, and payroll-linked financial services tailored to the Saudi market.

Founded in 2019 by Mostafa Ashour, NowPay focuses on payroll and employee financial wellness, allowing employees to access earned wages at any point during the month. The company has built payroll-linked financial products across multiple markets in the MENA region.

NowAccess will combine NowPay’s technology and product experience with Tas’heel’s shariah-compliant balance sheet and operational network of more than 310 service locations across Saudi Arabia. The investment will be used to establish local engineering and operations teams, adapt products to Saudi regulations, and support the venture’s commercial rollout.

The partnership follows a memorandum of understanding signed by the two companies in early 2025. By entering through a locally backed joint venture, NowPay aims to navigate regulatory requirements more efficiently than foreign fintechs typically face when entering the Saudi market.

NowAccess is currently in its market-entry phase, with employer partnerships expected to be announced as part of its formal launch. The deal brings NowPay’s total funding to $31 million.