PayDay Takaful

Embedded salary advances and Takaful micro-insurance for employers and their workforce

Specialty Solutions Startup Pre-Seed

Overview

PayDay Takaful is a B2B2C fintech-insurtech platform providing embedded salary advance and Takaful micro-insurance solutions to employers across North Africa and the Middle East. The company operates at the intersection of Islamic finance and employee financial wellness, enabling employers to offer payroll-linked financial services to their workforce.

The platform bundles interest-free salary advances with cooperative-style micro-insurance (Takaful) coverage in a single digital interface. Employees can access advances against earned wages without credit checks or collateral, with repayment processed via payroll deduction. Bundled Takaful coverage provides income protection, health, and emergency benefits aligned with Shariah principles. Employers manage both programs through a centralized dashboard, and the solution integrates with existing HR and payroll systems.

Since its 2024 launch, the platform has processed over 10,000 transactions totaling more than TND 8.2M. The company raised a USD 3M pre-seed round in October 2025 led by United Gulf Financial Services North Africa, with participation from TALYS Group and BioProtection SA. A strategic partnership with BG Titan was announced in March 2025 to deliver embedded payroll solutions to enterprise customers.

Products & Services

Interest-Free Salary Advance and Micro-Takaful Platform

A digital platform allowing employees to access earned wages before payday and enroll in Takaful micro-insurance coverage. Employers implement the platform across their workforce and manage requests, coverage, and reporting from a centralized dashboard.

Key Features

On-demand salary advance requests without credit checks or traditional loan requirements
Bundled Takaful micro-insurance coverage (income protection, health, emergency)
Payroll-deduction-based repayment that reduces counterparty risk
Employer dashboard for managing advances and group insurance policies
Employee financial wellness metrics and cash flow management tools
Incident claim management within the platform

Target Users: Employers implementing group financial wellness benefits; employees seeking pre-payday liquidity and Islamic-compliant insurance coverage

Employer Payroll Integration

A B2B integration layer connecting the PayDay Takaful platform with employer HR and payroll systems. Enables structured administration of salary advance programs and group Takaful policies alongside normal payroll operations.

Key Features

Integration with employer HR platforms and payroll systems
Structured salary advance approval and disbursement workflow
Group Takaful policy administration and premium management
Compliance with Islamic finance and Takaful regulatory frameworks

Target Users: HR and payroll teams at mid-to-large employers in North Africa and the EMEA region

At a Glance

Founded: 2024
Headquarters: London, United Kingdom
Employees: 11-50
Funding: Pre-Seed

Category & Focus

Category: Specialty Solutions
Subcategories: Embedded Insurance Employee Benefits Islamic Finance Micro-Insurance
Insurance Verticals: Group Benefits Specialty/E&S
Target Customers: Employers, Consumers