https://www.chivas.com/the-venture/finalists/people/gul-now-money
NOW Money uses mobile technology to provide accounts and a range of low-cost remittance options to low-income migrant workers in the GCC. These workers work long hours in poor conditions to send money home to support their families. However they are disallowed from opening bank accounts and are excluded from the financial system. NOW Money’s smartphone based solution will improve their lives, save them significant money, and give far greater financial inclusion across the region.
NOW Money operates as a platform for customers to access multiple online exchange houses, and they can then pick their preferred one based on the rate each is offering. The app can also be used to top-up prepaid mobile credit and pay utility bills, meaning users benefit from the same "anytime, anywhere" transaction options wealthier customers are used to. Users also have visibility of their current balance and all transactions.
Additionally, users are given a debit card which can be used at the ATM, for online payments, or for swipes at the cash register.
NOW Money uses mobile technology to provide accounts and a range of low-cost remittance options to low-income migrant workers in the GCC. These workers work long hours in poor conditions to send money home to support their families. However they are disallowed from opening bank accounts and are excluded from the financial system. NOW Money’s smartphone based solution will improve their lives, save them significant money, and give far greater financial inclusion across the region.
NOW Money operates as a platform for customers to access multiple online exchange houses, and they can then pick their preferred one based on the rate each is offering. The app can also be used to top-up prepaid mobile credit and pay utility bills, meaning users benefit from the same "anytime, anywhere" transaction options wealthier customers are used to. Users also have visibility of their current balance and all transactions.
Additionally, users are given a debit card which can be used at the ATM, for online payments, or for swipes at the cash register.
Location: United States, Maryland, Baltimore
Phone: +971 800 66966639
Total raised: $11.7M
Founded date: 2016
Investors 1
| Date | Name | Website |
| 23.06.2021 | Anthemis G... | anthemis.c... |
Funding Rounds 3
| Date | Series | Amount | Investors |
| 17.06.2024 | - | $4M | - |
| 29.03.2021 | - | $7M | Anthemis G... |
| 24.08.2017 | - | $700K | - |
Mentions in press and media 13
| Date | Title | Description |
| 17.06.2024 | UAE’s Now Money raised $4 M in Equity round | 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 ... |
| 06.11.2023 | Deals in brief: Radiant1 secures pre-Series A funding, multiple China and India deals, and more | Monk’s Hill Ventures leads Radiant1’s pre-Series A round Radiant1, a Singapore-based hotel management solutions company, has raised an undisclosed amount of investment in a pre-Series A funding round led by Monk’s Hill Ventures. The funds w... |
| 03.11.2021 | Top 10 Fintech Startups in UAE | Fintech companies are making the financial system a whole lot easier and faster. According to Investment Monitor, the global fintech market is projected to hit a market value of USD 305 billion by 2025, growing at a CAGR of 20% over the nex... |
| 30.03.2021 | Dubai’s NOW Money raises $7M in fresh funds | Dubai: NOW Money, the digital banking solution platform for low-income migrant workers, has secured $7M in a funding round led by Anthemis Exponential Ventures, with participation from several other investors, including Knuru Capital, Wamda... |
| 29.03.2021 | UAE Bank Account Service NOW Money Raises $7 Million Through Latest Investment Round Led By Anthemis Exponential Ventures | NOW Money, a UAE-based digital account service, announced on Monday it raised $7 million through its latest investment round, which was led by Anthemis Exponential Ventures with participation from Knuru Capital, Wamda, Commercial Bank of Du... |
| 29.03.2021 | Now Money Secures $7M in Funding | NOW Money, a Dubai, UAE-based fintech company, secured $7m in funding. The round was led by Anthemis Exponential Ventures which was joined by a consortium of investors including Knuru Capital, Wamda, Commercial Bank of Dubai, DIFC FinTech F... |
| 07.09.2017 | Term Sheet — Thursday, September 7 | SPORTS TALK Good morning, Term Sheet readers. Paid Content What you need to know about growing cyberattacks From ExtraHop The company also announced a strategic investment and partnership with the NFL Players Association through the OneTeam... |
| 24.08.2017 | UAE Startup NOW Money Raises US$700,000 From Accion Venture Lab And Newid Capital | August 24, 2017 3 min read You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. UAE-based fintech startup NOW Money has managed to attract US-based venture capital (VC) firms Accion Venture Lab and Newi... |
| 23.08.2017 | NOW Money Raises $700K from Accion Venture Lab | NOW Money has secured an investment of $700,000 from two U.S. based venture capital investors – Accion Venture Lab, the seed-stage investment initiative of financial inclusion leader Accion, and Newid Capital. Both Accion Venture Lab and Ne... |
| 23.08.2017 | NOW Money Raises $700K from Accion Venture Lab | NOW Money has secured an investment of $700,000 from two U.S. based venture capital investors – Accion Venture Lab, the seed-stage investment initiative of financial inclusion leader Accion, and Newid Capital. Both Accion Venture Lab and Ne... |
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