NowPay lands $20M for Saudi market entry with Tas’heel

MENA Signal • January 31, 2026

Egyptian fintech NowPay is entering Saudi Arabia through a joint venture called NowAccess. The company partnered with Tas'heel, the consumer finance arm of United International Holding Company, which invested $20 million for a 75% stake. NowPay retains 25% ownership and will use the capital to build local engineering and operations teams. This deal brings the startup's total funding to $31 million.

Why MENA Founders Should Care

Saudi Arabia is no longer just a destination for foreign direct investment; it demands local skin in the game. A $20 million check isn't just for growth here, it is for regulatory compliance and building Sharia-compliant infrastructure from the ground up. If you are scaling into the Kingdom, relying purely on VC cash is becoming increasingly risky. You need a local partner with a strong balance sheet to navigate the complex SAMA regulations. NowPay proved that valuation isn't the only metric that matters anymore; operational viability and compliance are the new currency for market entry. Investors are looking for teams that can survive the regulatory gauntlet, not just those with great user growth.

The Saudi payroll and earned wage access market is closing fast. NowPay enters with a significant war chest and a partner that already has over 300 service locations across the country. Competitors without deep local ties or specific Sharia-compliant structures will struggle to keep up. This partnership squeezes out smaller regional players who simply lack the operational depth to compete effectively. The market is moving from experimental pilots to entrenched incumbents quickly. If you are a small EWA player, your window to capture significant market share is shutting rapidly. Payroll is a winner-take-all vertical, and Tas'heel's distribution network gives NowAccess an unfair advantage that newcomers cannot easily replicate.

Founders should look at expansion through joint ventures rather than greenfield operations. Tas'heel needed NowPay’s tech, and NowPay needed Tas'heel’s license and distribution. This symbiotic model opens doors for other B2B fintechs looking to enter the Gulf. You do not need to build everything from scratch to scale successfully. Find a local heavyweight with distribution but outdated technology. This deal proves that acquisition appetite is high for mature startups that have product-market fit but need local operational depth to cross borders efficiently. It validates the "land and expand" model through corporate partnerships rather than traditional VC raises.

The Context

Founded in 2019 by Mostafa Ashour, NowPay focuses on earned wage access, allowing employees to access their salary before month-end. The company previously raised $600,000 in seed funding and has been operating primarily in Egypt. This move follows an MoU signed in early 2025 between the two firms. It highlights a trend where Egyptian startups, facing economic volatility at home, aggressively target the stable and wealthy Saudi market. Tas’heel’s involvement underscores a shift where traditional holding companies in the GCC actively adopt fintech solutions to modernize their legacy service offerings.

What's Next

Watch for NowAccess to announce major employer partnerships as they roll out commercially. Expect more Egyptian fintechs to seek similar JVs with Saudi holding companies to bypass regulatory hurdles.