The $4 million fundraising round for Dubai-based NOW Money has closed. With this investment, the company has completed its second round of funding since being acquired by Mark Nutter and Nicolas Andine in 2023.
The funding will be used to expand operations and improve technology product offerings by the top inclusive banking and payroll FinTech in the Gulf Cooperation Council (GCC), which is committed to enabling low-income workers in the GCC safe and secure digital banking solutions.
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As the need for easily available and reasonably priced banking services and financial literacy is growing, NOW Money is dedicated to closing the financial inclusion gap for low-income migrant workers throughout the GCC.
“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.”
NOW Money is renowned for taking an inventive and open approach to meeting the financial needs of marginalised communities.
Through the use of state-of-the-art technology, the company offers migrant workers multilingual savings accounts, bill payment, and remittance services all of which are crucial banking services. The user-friendly mobile application facilitates this process.
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To further demonstrate its commitment to advancing secure and safe financial education in the area for the most vulnerable, the company offers in-person financial literacy training.
About NOW Money
Dubai-based FinTech business NOW Money works with the Commercial Bank of Dubai and VISA to operate across the UAE.
