Founded Year



Debt | Alive

Total Raised


Last Raised

$7M | 1 yr ago

Mosaic Score

+20 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About NOW Money

NOW Money uses mobile banking technology to provide accounts, financial inclusion and a range of low-cost remittance options to low-income migrant workers.

NOW Money Headquarter Location

814 The Onyx Tower 1 The Greens


United Arab Emirates


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NOW Money's Products & Differentiation

See NOW Money's products and how their products differentiate from alternatives and competitors

  • NOW Money app

    NOW Money is the Gulf’s first digital payroll and banking service for the unbanked and underbanked.


    NOW Money has transformed the payroll process for many of the UAE’s biggest companies with its award winning payroll platform. By providing accounts to their staff, it has not just banked tens-of-t… 

Research containing NOW Money

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CB Insights Intelligence Analysts have mentioned NOW Money in 1 CB Insights research brief, most recently on Jul 1, 2020.

Expert Collections containing NOW Money

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

NOW Money is included in 2 Expert Collections, including Banking.



738 items



2,323 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

Latest NOW Money News

How fintech startups can help the underserved and make a profit

May 25, 2022

(show all) Cate Lawrence is an Australian tech journo living in Berlin. She focuses on all things mobility: ebikes, autonomous vehicles, VTOL, smart cities, and the future of alternative energy sources like electric batteries, solar, and hydrogen. Working as a tech journo, I meet many people with big, world-changing ideas. But despite the hyperbole, when I ask about how they are going to achieve their aims – or indeed if they are already up and running, who they have helped – the Zoom call often gets really quiet. So when I meet someone who is making the lives of some of the most disadvantaged people in the world a better place, and they’re using tech to do so, I get wildly excited. This week I had the pleasure of talking to Michael Schlein, President, and CEO at Accion . Accion is a global nonprofit committed to creating a financially inclusive world. As Schlein explained, “We are dedicated to enabling 3 billion people who are left out of – or poorly served by – the financial sector to improve their lives.” Accion has been around for over 60 years with a legacy in microfinance and fintech impact investing. In other words, they invest in companies and services that provide financial services, especially to those who may have been unbanked, and unable to access microloans, or insurance. Accion offers an abundance of services, including the sponsorship of two venture investment funds in Africa and a think tank on financial inclusion. Serving and uplifting disadvantaged communities with fintech Critically, Schlein explained, the investment companies not only serve disadvantaged and minority communities but represent them at a local level. This is encouraging. According to Harvard Business Review, in 2019, 2.8% of funding went to women-led startups; in 2020, that fell to 2.3%, Crunchbase figures show. Even worse, the 2.8% figure was an all-time high. Then, within this funding, even less traditionally goes to Black and Latino women, or those without university degrees. According to Schlein, Accion is most often the first funder of financial companies helping the poor after family and friends. Schlein shared that the company’s investment in women-led financial services has a flow-on effect where women invest in women-led businesses, which build profits and good financial health. This not only benefits themselves and their families but their wider communities. With NOW Money , Employees get a mobile account app, contactless debit card, and access to in-app financial services. A great example of a business serving the underserved is NOW Money. The company helps employers of migrant laborers in the United Arab Emirates to provide payroll services. Instead of simply distributing cash cards, NOW Money provides workers with a bank account, debit card, and smartphone application. From these they can make local payments, international remittances, and cash withdrawals at local ATMs. COVID-19 bought digitization of critical services to the forefront The pandemic created a perfect storm for the rapid acceleration of digital transformation. Many companies focused on remote healthcare. But Accion saw the inequality experienced by the poor accessing services, such as business loans and insurance. Many mainstream providers are reluctant to serve the poor, making it hard for people to gain financial security. This created an opportunity for fintech startups and investors to make a difference. Fintech platforms can help small businesses pivot Covid-19 also created the need for new business models. An example of this is Goodfynd , an app and financial services platform in the US that helps people start and develop profitable food trucks. Food trucks were successfully able to navigate many of the challenges that plagued bricks-and-mortar businesses during COVID-19. Image credit: Matthias Oberholzer Food trucks are much cheaper to launch than brick-and-mortar restaurants. This makes them attractive to people outside of conventional hospitality. They represent all genders and races and don’t require a university degree or fluent English. COVID saw many restaurants limit their seating, creating an opportunity for many trucks to expand their business. But people running food trucks also need to be on top of keeping themselves safe. They also need to position their trucks to suit the stay-at-home audience. So, Goodfynd helps customers find food trucks through an app. In turn, the businesses can use the platform to find staff and gain the essential financial knowledge and tools to thrive. Very cool. Maybe you’re the founder or CEO of a fintech startup looking to create products that radically change the finance sector? Accion can provide a myriad of ways to create and deliver services to the underserved that are not only beneficial but can be highly profitable. This is an incredibly exciting area of business where out-of-the-box ideas, good intentions, and great tech can merge to create great things. Did you know Michael Schlein, President, and CEO at Accion , is speaking at the TNW Conference this summer? Check out the full list of speakers here . Get quirky entrepreneurial insights! Did you know TNW's founder, Boris, has a weekly newsletter? Sign up for it here and get his fun stories straight to your inbox!

NOW Money Web Traffic

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NOW Money Rank

  • When was NOW Money founded?

    NOW Money was founded in 2016.

  • Where is NOW Money's headquarters?

    NOW Money's headquarters is located at 814 The Onyx Tower 1, Dubai.

  • What is NOW Money's latest funding round?

    NOW Money's latest funding round is Debt.

  • How much did NOW Money raise?

    NOW Money raised a total of $8.46M.

  • Who are the investors of NOW Money?

    Investors of NOW Money include Dubai International Financial Centre, Accion Venture Lab, Hambro Perks, Commercial Bank of Dubai, Anthemis and 9 more.

  • Who are NOW Money's competitors?

    Competitors of NOW Money include Denarii and 4 more.

  • What products does NOW Money offer?

    NOW Money's products include NOW Money app.

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