Tas'heel invests $20 million for 75% of NowPay's Saudi joint venture NowAccess

Tas’heel has invested $20 million in NowAccess, a new Saudi joint venture with NowPay, Wamda reported on 22 January. Tas'heel takes a 75% stake in the joint venture, and NowPay holds the remaining 25%. This is an investment in the joint venture, not an equity round in NowPay itself.

The deal

Tas'heel is the consumer finance arm of United International Holding Company. It has more than 310 service locations in Saudi Arabia. The two companies signed a memorandum of understanding in early 2025. NowPay's total funding now stands at $31 million.

What NowPay and NowAccess do

NowPay is a Cairo-based fintech focused on payroll and employee financial wellness, letting employees access their pay at any point in the month. Mostafa Ashour founded it in 2019 and is its chief executive. It operates across MENA. NowAccess will offer payroll, HR and shariah-compliant, payroll-linked financial solutions in Saudi Arabia. It is in its market-entry phase, and no employer partners have been named yet.

Plans

The funds will go towards building a Saudi engineering and operations team, localising products and supporting the commercial launch. Co-founder and CEO Mostafa Ashour said: "Saudi Arabia represents a high-growth market for payroll and employee financial solutions."

At a glance

• Company: NowPay
• Investment: $20 million into the joint venture NowAccess
• Type: Equity investment in a joint venture, not a NowPay funding round
• Investor: Tas'heel (75% of NowAccess)
• NowPay stake: 25% of NowAccess
• Founded: 2019
• Based in: Cairo, Egypt
• Markets: MENA, now entering Saudi Arabia
• Key number: $31 million total NowPay funding