Loading organizations...

dopay is a technology company.
dopay has raised $33.5M across 3 funding rounds.
dopay has raised $33.5M in total across 3 funding rounds.
دوباي بتسهّل على الشركات تسجيل الموظفين وصرف المرتبات بأمان وبسلاسة، وبكده بتوفّر وقت الإدارات المختلفة عشان تركز على شغلها الأساسي.
dopay has raised $33.5M in total across 3 funding rounds.
dopay's investors include Argentem Creek Partners, Force Over Mass Capital, 9Yards Capital, Angelic Ventures, sequel.
Dopay is a fintech company founded in 2014 that provides a digital payroll and payments platform to eliminate cash payments for businesses, particularly targeting SMEs in Egypt and expanding in MENA markets.[1][2][4] It serves companies by enabling electronic salary disbursements to unbanked and underbanked employees via virtual accounts accessible through a mobile app, ATMs, point-of-sale, and debit cards, addressing financial inclusion for an estimated 1.7 billion unbanked workers globally.[1][2][3] Dopay's growth includes serving clients like G4S, EFS Facilities Management, and SWVL, with total funding of $33.9 million across rounds, including an $18 million Series A and a $13.5 million extension.[2][3]
Dopay was established in 2014 as a startup focused on innovative financial inclusion solutions in Egypt, where 2.4 million businesses rely on cash payroll.[1][4] The company is led by Founder & CEO Frans van Eersel, a payments sector innovator, and COO Ahmed Nassef, with over 20 years in leadership, growth, marketing, and expansion across the Middle East and US.[2] Early support came from FMO's €1.4 million investment via its Ventures Program to scale Egyptian operations, replicate in MENA, and develop business further, marking a pivotal moment in breaking the cash cycle for SMEs.[1][4] Traction built through partnerships, culminating in a banking agent license from Bank ABC Egypt and major funding rounds.[2][3][5]
Dopay rides the global fintech wave addressing cash dependency in emerging markets, where 200 million businesses use cash payroll and 1.7-2 billion workers lack bank accounts, amplified in MENA by Egypt's 2.4 million cash-paying firms.[1][2][4] Timing aligns with rising digital payment adoption post-COVID, regulatory support like Egypt's banking agent licenses, and investor interest in inclusion tech, as seen in FMO's backing for decent workplaces and inequality reduction.[4][5] It influences the ecosystem by pioneering B2B2C models that digitize payroll for SMEs, fostering financial inclusion, reducing cash risks, and enabling scalability to other MENA markets.[1][2]
Dopay is poised for accelerated expansion with its recent $13.5 million Series A extension and banking license, targeting to "bank the next billion workers" through virtual banking in emerging markets.[2][3] Trends like mobile money growth, regulatory easing in MENA/Africa, and demand for cashless solutions amid economic digitization will shape its path, potentially driving user growth beyond Egypt. Its influence may evolve by setting standards for payroll fintech, attracting more enterprise clients, and replicating successfully across high-cash economies, building on its cash-breaking mission to transform financial access at scale.[1][2]
dopay has raised $33.5M across 3 funding rounds. Most recently, it raised $13.5M Series A in July 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 22, 2024 | $13.5M Series A | Argentem Creek Partners | |
| Sep 1, 2021 | $18.0M Series A | Force Over Mass Capital | |
| Jan 1, 2016 | $2.0M Seed | 9Yards Capital, Angelic Ventures, sequel |