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Egypt-based Fintech NowPay Raises $20M to Expand Shariah Compliance Payroll Financial Services Across Saudi Arabia

Instead of navigating Saudi regulation alone, NowPay is taking the faster route—launching through a $20M-backed joint venture with Tas’heel, gaining instant distribution across 310+ service locations.

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NowPay, an Egypt-based fintech focused on payroll and employee financial wellness, is officially entering the Saudi market through NowAccess, a newly established joint venture with Tas’heel, the consumer finance arm of United International Holding Company.

The market entry is backed by a $20 million investment from Tas’heel, which will hold 75% of the new venture, while NowPay retains the remaining 25%. The deal increases NowPay’s total funding to $31 million.

A Strategic Shortcut Into Saudi Arabia

NowPay’s move comes at a time when Saudi Arabia is seeing growing demand for modern payroll-linked financial infrastructure, driven by digital transformation across HR, fintech, and corporate financial services.

Rather than entering Saudi as a standalone foreign fintech—often a slow and compliance-heavy route—NowPay is partnering with a local heavyweight with deep operational reach. The joint venture follows an MoU signed in early 2025, paving the way for NowAccess as a dedicated Saudi vehicle designed for scale and regulatory efficiency.

What NowPay Is Building

Founded in 2019 by Mostafa Ashour, NowPay specializes in employee financial wellness solutions that allow corporate employees to access their salaries at any point during the month, rather than waiting for the standard payroll cycle.

The approach targets a widespread pain point in emerging markets: cash-flow gaps between paydays, which often push employees toward high-cost borrowing. NowPay positions its platform as a corporate benefit that improves employee satisfaction while giving employers tools to boost retention and productivity.

Why Tas’heel Matters: Scale, Compliance, and Nationwide Footprint

NowAccess will combine NowPay’s product expertise with Tas’heel’s local advantages, including a shariah-compliant balance sheet, deep market knowledge, and an operational footprint of more than 310 service locations across Saudi Arabia.

That distribution layer could give NowAccess immediate scale in a market where reaching employers at enterprise level often depends on local relationships and compliance capabilities.

“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.”

Where the $20M Will Go

The new capital injection will be used to:

  • build local engineering and operations teams in Saudi Arabia
  • localise NowPay’s products for Saudi market needs
  • support the venture’s formal market entry and commercial launch

NowAccess is currently in its market-entry phase, with employer partnerships expected to be announced as part of the rollout.

A Payroll-Fintech Play Tailored for Saudi

Through NowAccess, NowPay aims to deliver payroll, HR tools, and payroll-linked financial services designed to meet Saudi requirements—particularly in areas requiring shariah compliance.

Crucially, the partnership may allow NowPay to bypass typical regulatory friction foreign fintechs face when entering Saudi Arabia, positioning NowAccess as a Saudi-native operator with the ability to scale faster and more sustainably.

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MENA Startups

UAE-Based FinTech Company Al Ansari Exchange Tests Voice AI in Mobile App and Explores Agentic AI to Enhance Financial Services

The initiative forms part of Al Ansari Financial Services’ broader commitment to Dubai’s private sector transformation programme.

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Al Ansari Exchange, a subsidiary of Al Ansari Financial Services PJSC (“The Group”) (DFM: ALANSARI), is testing artificial intelligence in its mobile app and exploring its use, as Dubai presses businesses to adopt more autonomous AI systems.

The initiatives are part of Al Ansari Financial Services’ participation in a Dubai government programme under which 11 Dubai-based companies pledged to integrate agentic AI into their operations with the support of Dubai Chambers.

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Al Ansari Financial Services is assessing how AI could accelerate internal processes, such as compliance functions, in line with international best practices while meeting regulatory requirements and delivering a seamless, frictionless customer experience.

The group works with federal and local government entities, including the Central Bank of the UAE and Dubai’s Department of Finance, to support the transition towards a cashless economy.

“Our work with voice AI is a stepping stone towards more advanced applications, including agentic AI,” said Rashed A. Al Ansari, Group CEO of Al Ansari Financial Services. “AI will play an increasingly important role in customer service and internal processes. Our priority is to develop reliable, scalable solutions suited to a regulated financial business.”

“We work closely with the relevant UAE authorities to support national priorities and implement regulatory requirements across our operations. Guided by their leadership, we focus on delivering reliable financial services that meet customers’ needs,” Al Ansari added.

Ali Al Najjar, Chief Executive Officer of Al Ansari Exchange, said: “We have implemented voice AI in our app to help customers navigate services and complete routine tasks more easily. Our operational focus is on accuracy, clear guidance and access to our customer service team whenever personal assistance is needed.”

The AI work builds on a digital base the company has been expanding as Dubai moves away from cash. Digital channels accounted for 27% of total value of remittances at Al Ansari Exchange in 2025, up from 23% in 2024. A growing share of customer activity on digital channels widens the scope for tools such as the voice feature now in its app.

That shift mirrors the emirate’s wider progress. Dubai Finance said on October 9 that Dubai’s cashless transactions index reached 90.1%, passing the 90% target set for 2026 under the Dubai Cashless Strategy launched in October 2024.

The strategy’s final report credited partnerships among government entities, financial institutions and payment providers, and said cashless payment initiatives had contributed more than AED 8 billion to the emirate’s economy.

 

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Saudi-based AI Startup Cycls Launches Specialized AI Agents to Automate Business Tasks and Support Local Market Needs

to help individuals and businesses across Saudi Arabia streamline daily operations and accomplish tasks more efficiently.

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Cycls, a Saudi AI platform, has introduced a team of specialized AI agents designed to help individuals and businesses across Saudi Arabia streamline daily operations and accomplish tasks more efficiently.

AI no longer just answers questions and makes suggestions. It now executes complete tasks: researching, gathering information, analyzing, and delivering ready-to-use outputs. This is where

Cycls offers an experience that goes beyond traditional AI conversation. Instead of just receiving an answer, users can assign agents multi-step tasks: researching, browsing, analyzing, organizing information, and preparing final outputs.

Founded in 2021 by engineers Mohammed Alrujayi and Mohammed Alogayyil, Cycls has delivered specialized AI projects for government, private, and non-profit sectors. This experience now powers a growing family of intelligent agents built for diverse needs, with deep understanding of the Saudi context and local market requirements.

Cycls has also built sovereign cloud infrastructure within Saudi Arabia, giving individuals and organizations direct access to AI with models and data hosted inside the Kingdom.

Super: Get any work done

Super is the versatile agent you can rely on for diverse tasks requiring research, browsing, analysis, and file creation.

For example, a founder might ask Super to prepare a preliminary study for a new market. The agent searches for relevant information, gathers and compares data, then organizes findings into a report or presentation that helps the founder understand the market and make informed decisions. Super also handles files, analyzes data, and prepares documents, presentations, and dashboards, while connecting to supported systems and data sources, allowing users to complete multiple stages of work through a single experience.

The experience extends beyond the current task: Cycls saves and organizes information within workspaces, making it accessible and reusable for future tasks.

Haseef: An expert in Saudi law

Legal work can be slow. Reviewing a contract or researching a statute often means navigating multiple laws, regulations, and official sources. This is where Haseef comes in, the AI agent specializing in Saudi law, helping users research legislation, regulations, decisions, and judicial precedents, understand legal texts, and draft and review documents.

A business owner might upload a commercial contract and ask which clauses deserve closer attention or what legal requirements apply to a particular provision. Haseef can analyze the wording, explain the points that warrant review, and refer the user to relevant legal sources.

It also drafts contracts, agreements, policies, and legal memoranda, organizing associated information and references, serving as a support tool for professionals and individuals alike, while professional review remains essential depending on the matter.

Badee: A full-service marketing agency

From concept to content, design, and distribution, Badee combines the full range of marketing and creative tasks in a single intelligent agent, delivering an experience that mirrors working with a complete marketing agency.

A brand owner might ask Badee to prepare a campaign for a new product launch. The agent begins by understanding the product and target audience, then helps develop the creative concept and marketing messages, writes content, and prepares designs, images, and materials suited for different platforms. Its capabilities extend beyond content creation to include campaign planning, influencer recommendations, organizing marketing materials, and preparing and executing content for publication across supported channels.

Badee also creates, edits, and enhances images, with careful attention to Arabic language and Saudi cultural context, helping brands and content creators move from idea to execution within a seamless experience.

Namaa: Your agent for the Saudi stock market

Financial markets move constantly, and the information investors need is scattered across prices, technical indicators, company announcements, financial statements, and reports. Namaa, the agent specializing in the Saudi stock market, helps gather, analyze, and present this information in a clearer, more accessible form.

A user might ask for a comparison of two listed companies over a specific period. Namaa analyzes available financial data, compares revenues, profits, and relevant indicators, then organizes findings into a report that clarifies the differences. It also provides analysis of stock movements and technical indicators, tracks company announcements and news, and covers data from both the Main Market and the Parallel Market (Nomu).

Namaa helps users understand financial information and market trends, without replacing independent investment judgment or specialized financial advice.

Cycls on the go

The Cycls app, on the App Store and Google Play, lets users start tasks, pick up where they left off, and check progress on the go, while agents keep working in the background.

Sabtiah: Saudi Arabia’s largest AI community

Every Saturday, developers, entrepreneurs, researchers, and AI enthusiasts gather at Cycls’ headquarters in Riyadh for Saudi Arabia’s largest dedicated AI community. Named after the day it meets, following the Arab tradition of weekly gatherings, Sabtiah is a space to share knowledge, discuss the latest developments, showcase new projects and ideas, and build relationships across the field. Conversations continue long after each session, with members exchanging opportunities and expertise throughout the week, deepening Cycls’ role in growing the Saudi AI community.

Saudi AI, beyond answers

Cycls brings together a family of specialized agents with one goal: turning AI from a tool for passing answers into a tool for real accomplishment.

As the company develops its platform and expands its range of agents, its focus remains on the practical needs of individuals and businesses. That means understanding the laws, markets, language, and culture that shape their work.

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UAE-Based AdTech Startup JustAd Secures $5M Investment to Expand AI-Powered Advertising Platform Into New Markets

Dubai-based JustAd has secured $5 million from angel investor Emad Juma to support its international expansion and develop its AI-powered advertising platform, which combines campaign management, analytics and flexible advertising financing.

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UAE-based advertising technology startup JustAd has secured a $5 million investment from angel investor Emad Juma to accelerate its expansion into new markets and strengthen its AI-powered marketing operating system. The investment follows the company’s growth across the Middle East and North Africa (MENA), where it provides businesses with integrated tools for managing and financing digital advertising campaigns.

JustAd operates a unified advertising platform that enables businesses to plan, launch, monitor and optimize campaigns across major digital networks, including Meta, TikTok, Snapchat and Google Ads. Its technology combines AI-powered campaign analytics, return-on-investment tracking, product catalogue integrations and consolidated reporting, allowing advertisers to manage multiple channels through a single interface.

The company has also developed an advertising financing model called Advertise Now, Pay Later (ANPL), which enables businesses to launch campaigns immediately while spreading advertising payments over installments of up to 12 months. The model is designed to address cash flow challenges faced by small and medium-sized advertisers, allowing them to maintain marketing activities without paying their full advertising budgets upfront.

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JustAd Secures $5M to Accelerate International Expansion

The $5 million investment from Emad Juma will support JustAd’s expansion beyond its established markets in the MENA region. The company plans to establish local sales and customer support teams in its target markets while adapting its products to meet different business requirements and strengthening partnerships with major global advertising platforms.

As part of its expansion strategy, JustAd intends to enhance its AI-powered advertising technology and develop additional capabilities tailored to local market needs. The company expects to begin onboarding customers in its new markets in early 2027, although it has not disclosed the specific countries included in its initial expansion plans.

The investment will also support the company’s efforts to position its platform as an integrated solution for businesses seeking to manage advertising operations, monitor campaign performance and access financing through a single digital ecosystem.

AI-Powered Platform Integrates Advertising Management and Analytics

JustAd’s platform brings together campaign planning, execution and performance measurement across multiple advertising networks. By integrating Meta, TikTok, Snapchat and Google Ads, the company enables advertisers to coordinate their digital marketing activities without switching between separate platforms.

The system uses AI-powered analytics to help businesses evaluate campaign performance, track advertising returns and identify opportunities for optimization. It also includes product catalogue integrations and unified reporting tools, providing advertisers with a consolidated view of campaign results across different channels.

This approach is designed to simplify advertising operations for businesses managing campaigns across several platforms, while helping marketing teams make decisions based on performance data. By combining campaign management and analytics, JustAd aims to reduce operational complexity and improve visibility into advertising expenditure.

Advertise Now, Pay Later Offers Flexible Financing for SMEs

One of JustAd’s core products is its Advertise Now, Pay Later model, which allows businesses to run advertising campaigns immediately and pay their advertising budgets in installments over periods of up to 12 months.

The financing solution targets cash flow challenges that can limit advertising activity among small and medium-sized businesses. Rather than requiring advertisers to cover their entire campaign budgets upfront, the model provides a payment structure intended to help companies maintain campaigns while managing their available working capital.

JustAd delivers the service through approved advertising accounts managed by authorized agencies, alongside direct technical support for customers using major digital advertising platforms. The arrangement combines advertising account management, campaign execution and financing within the company’s broader technology offering.

By integrating ANPL with its advertising management and analytics tools, JustAd is developing a model that connects advertising technology with financial services. The company positions this combination as a specialized FinTech solution for the advertising industry, bringing campaign management, performance measurement and advertising financing into one platform.

JustAd Targets New Markets in Early 2027

Following the investment, JustAd plans to expand its operations by building local commercial and customer support teams, developing market-specific products and strengthening relationships with global advertising networks.

The company expects to start accepting customers in its new markets in early 2027, marking the next stage of its growth strategy beyond MENA. Its expansion will focus on making its integrated advertising platform accessible to businesses seeking centralized campaign management and more flexible advertising payment options.

With $5 million in new funding, JustAd aims to scale its AI-powered marketing infrastructure while extending its Advertise Now, Pay Later offering to additional markets. The investment supports the company’s broader strategy of combining advertising operations, analytics and financing to address the needs of businesses managing digital marketing campaigns.

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