Shaher Abbas (PAYDAY)
Overview
Shaher Abbas is a prominent figure in the fintech and insurtech sectors, particularly recognized for his co-founding role in PAYDAY, a Tunisian startup focusing on financial wellness and inclusive protection. Founded in 2024, PAYDAY aims to empower low and medium-income workers by providing access to financial solutions that enhance productivity and financial stability. The platform connects insurers, banks, and employers through a fully digital ecosystem, thus bridging the gap between financial institutions and workers.
Recent Developments
In the past year, Shaher Abbas has been at the helm of significant achievements with PAYDAY:
- October 2025: PAYDAY announced the close of its pre-seed financing round, which valued the company at $3 million. The round was led by UGFS North Africa, with participation from TALYS Group and BioProtection SA. This funding bolsters PAYDAY's ability to expand its innovative financial solutions and increase its footprint in the North African region.
- PAYDAY has successfully facilitated over 10,000 transactions, amounting to over 8.2 million Tunisian dinars. This growth has validated the startup’s financial model and fueled its ambition to become a regional benchmark in financial inclusion.
- The startup is expanding into a financial and insurance aggregator, planning to integrate banks, microfinance institutions, and insurers to enhance its service offerings to a broader audience, including employees and individuals directly.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Shaher Abbas |
| Nationality | Not specified |
| Occupation | Fintech and Insurtech Entrepreneur |
| Known For | Co-founding PAYDAY Takaful |
| Education | University of Durham |
Early Life and Education
Shaher Abbas’s entrepreneurial journey is deeply rooted in his education and early career experiences. He attended the University of Durham, which provided a solid foundation in financial systems and technology. This education was pivotal, equipping him with the knowledge required to navigate and innovate within the complex fintech landscape. Shaher Abbas has also been associated with Islamic finance, evidenced by his leadership roles in various companies related to Shariah-compliant financial services. This background has influenced his approach to creating fintech solutions that align with Islamic finance principles, ensuring they are inclusive and ethical.
Career and Notable Achievements
Shaher Abbas's career is distinguished by key milestones:
- 2014: Co-founded IFIN Services, a fintech platform in Bahrain aimed at connecting financial institutions with retailers and SMEs.
- 2024: Co-founded PAYDAY in Tunisia, a fintech and insurtech startup that quickly gained traction due to its innovative solutions for salary-backed financing and micro-Takaful protection.
- PAYDAY's growth and success are attributed to its focus on facilitating financial stability for low and medium-income earners, a mission that resonates widely in emerging markets.
Current Work and Impact
Currently, Shaher Abbas continues to drive PAYDAY's expansion. The startup focuses on creating a digital ecosystem that empowers workers through financial wellness and inclusivity. By integrating various financial services, PAYDAY aims to simplify access to financial tools, thus improving the economic resilience of its users. Shaher's leadership in implementing Shariah-compliant financial products is critical in achieving these objectives.
Conclusion
Shaher Abbas stands as a pioneering figure in the fintech and insurtech sectors. His work with PAYDAY highlights his commitment to financial inclusion and innovation. As PAYDAY continues to expand, the impact of Shaher Abbas’s visionary leadership is poised to influence the regional fintech landscape significantly. His initiatives not only aim to democratize financial access but also ensure ethical compliance, setting a high standard for future fintech solutions.