Dubai-based NOW Money today announces it has closed on a $4 million equity round. The investment rounds out the company’s second round of funding following Mark Nutter and Nicolas Andine’s acquisition in 2023.
The funds will be used by the top inclusive banking and payroll FinTech, which is committed to offering low-income workers in the Gulf Cooperation Council (GCC) region safe and secure digital banking solutions, to expand its operations and improve its technology product offerings.
NOW Money is dedicated to closing the financial inclusion gap for low-income migrant workers throughout the GCC countries, as the demand for easily accessible and reasonably priced banking services and financial education keeps growing.
“We are thrilled to have secured this investment, which underscores the confidence in NOW Money’s vision and potential positive socio-economic impact,” said Nicolas Andine, CEO at NOW Money.
“This funding will be instrumental in accelerating our growth trajectory, fueling innovation and advancing our mission of financial inclusion. With the support of our investors, we are poised to make significant strides in expanding our reach and enhancing the accessibility of banking services for low-income individuals in the GCC region.”
When it comes to meeting the financial needs of marginalized communities, NOW Money is renowned for its creative and open methods. Through the use of cutting-edge technology, the company offers migrant workers multilingual mobile applications that are easy to use and give them access to essential banking services like bill payments, savings accounts, and remittances. In keeping with its goal of advancing secure and safe financial education for the most vulnerable in the area, the company also offers in-person financial literacy training.
“We believe in the transformative potential of NOW Money’s innovative approach to financial inclusion,” said a representative from the undisclosed investor. “We are excited to partner with NOW Money on their journey to empower underserved communities with access to essential financial services. This investment reflects our confidence in NOW Money’s ability to drive positive change and create lasting impact.”
