Cairo-based fintech NowPay has entered the Saudi market through NowAccess, a joint venture with Tas’heel, the consumer finance division of United International Holding Company.
The partnership follows a memorandum of understanding signed in early 2025.
Under the agreement, Tas’heel has invested $20 million and will hold a 75% stake, while NowPay retains 25%.
NowAccess will combine NowPay’s experience in payroll-linked employee financial wellness solutions across MENA with Tas’heel’s local knowledge.
The venture will also leverage Tas’heel’s Shariah-compliant balance sheet and its nationwide network of more than 310 service locations.
“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.”
The funding will support the establishment of a Saudi-based engineering and operations team, localisation of products, and the venture’s commercial launch.
NowAccess is in its market-entry phase, with employer partnerships expected to be announced during the rollout.
By working with Tas’heel, NowPay aims to navigate the regulatory and operational challenges typically faced by foreign fintechs in Saudi Arabia.
This partnership will enable NowAccess to offer payroll, HR, and Shariah-compliant financial solutions tailored to local needs.
Featured image credit: Edited by Fintech News Middle East, based on image by farknot via Freepik
