NowPay, a Cairo-based FinTech startup raises $600,000 in a Seed funding round, with investors including Silicon Valley’s Endure Capital and 500 Startups.
NowPay was founded in 2018 by Egyptian entrepreneurs Mostafa Ashour, Cherif Radi, and Ahmed Sabry, to help employees request their salaries in advance. This comes as part of their aim to improve financial wellness of corporate employees.
“Saving, spending, budgeting and borrowing. Those are the four pillars of financial-wellness. We want to improve every aspect of those for employees,” said Mostafa Ashour, Cofounder and CEO of NowPay.
According to Mosatafa, NowPay helps reduce money worries, lower financial stress, and cut down attrition rates, so that employees can get their salaries whenever they feel they’re cash-strapped.