Dopay to raise $18 million series A funding round led by Force Over Mass Capital, FMO and NN Group.

Dopay, a London, UK-based provider of a B2B2C payments platform for unbanked workers in emerging markets, announced closing a $18 million series A funding round.

The money was raised from investors led by Force Over Mass, FMO and NN Group. Mbuyu Capital and Alder Tree Investments were also significant participants.
 
Dopay, founded in 2014 by Frans van Eersel, operates a platform that enables staff to be paid in real time, even during weekends and holidays. Each account provides a prepaid debit card, in partnership with Mastercard, enabling 24/7 access to funds via ATM withdrawal. Enrolled businesses benefit from a secure and cashless payroll, with simple-to-use interfaces and fully auditable transparency. Prepaid card users enjoy instant and secure access to banking facilities, no matter how much they earn. Dopay’s agent banking license, enabling the delivery of digital banking services and onboarding of employees and beneficiaries in seconds, puts dopay in a strong competitive position in Egypt’s salary payments space.