Dubai-based fintech company, NOW Money, has successfully secured $4 million in its latest equity round. This marks the second round of funding since the company was acquired in 2023 by Mark Nutter and Nicolas Andine.
Founded in 2015 by Ian Dillon and Katharine Budd, NOW Money focuses on providing secure digital banking services to low-income workers in the Gulf Cooperation Council (GCC) region.
The company aims to bridge the financial inclusion gap by offering accessible and affordable banking solutions to migrant workers, who often lack access to traditional financial services.
The newly raised funds will be used to expand NOW Money’s operations and further enhance its technology products. As the need for accessible banking services and financial education continues to grow, NOW Money is committed to supporting low-income individuals by providing essential services like remittances, bill payments, and savings accounts. These services are available through a user-friendly mobile app that offers multiple language options.
CEO Nicolas Andine expressed his excitement about the investment, saying, “We are thrilled to have secured this funding, which demonstrates confidence in NOW Money’s vision and its potential to create a positive socio-economic impact. This investment will help us accelerate our growth, drive innovation, and advance our mission of financial inclusion in the GCC region.”
NOW Money is known for its transparent and innovative approach to addressing the financial needs of underserved populations. In addition to its digital offerings, the company provides in-person financial literacy training, underscoring its commitment to educating and empowering the most vulnerable communities.
A representative from the undisclosed investor group also voiced their support, stating, “We believe in the transformative potential of NOW Money’s approach to financial inclusion. We are excited to partner with them 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.”
With this latest investment, NOW Money is poised to make significant strides in expanding its reach and enhancing the accessibility of banking services for low-income individuals across the GCC region.
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