back Back

NOW Money secures new investment and appoints Nicolas Andine as CEO

By Delisha Fernandes

November 03, 2023

  • Banking Platform
  • budget
  • Fintech news
Share

NOW Money, investment round, payroll, remittance platform, Human Resources, banking platform, underbanked, budget, Fintech news, Fintech UAEPayroll and remittance platform NOW Money has closed a new financing round led by Dubai-based entrepreneurs Mark Nutter and Nicolas Andine.

NOW Money has recently announced it offers the UPI remittance option, developed by the National Payments Corporation of India, which provides an instant, cost-effective option for money transfers to India.

It also offers easy access payroll and banking to the wider underserved and underbanked immigrant population in the UAE by working with employers to provide a unique service with low remittance and banking fees to multiple countries which are below the United Nations’ industry recommended standard.

As part of the investment round, Nutter has become the Chairman of NOW Money, and Andine has been appointed as CEO to grow the business, expand its product offerings and improve its operational excellence.

Andine said,  “We were attracted by the unique proposition of NOW Money, combining the strong social mission of bringing banking access to the underserved 1.7 million population of the UAE combined with a solid and scalable business model.

“We believe the business is perfectly aligned with the initiatives of the government and its value proposition offers a unique path for socially responsible employers to support the financial wellbeing and ultimately mental and physical health of their workers.”

The company is also launching a new banking subscription service for migrant workers in the region. The model will simplify the NOW Money offering, making it easier for the end user to navigate, budget and stay in control of their finances whilst getting greater value from their subscription.

The ethical FinTech also provides in-person financial literacy and education training in the end user’s native language, demonstrating the company’s clear commitment to financial inclusion and social mobility.

Previous Article

November 03, 2023

India’s mPokket expands operations in tier-2 cities and bridges linguistic gaps

Read More
Next Article

November 03, 2023

American Express and Nuvei join forces to facilitate A2A payments

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Banking Platform

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Billie adds its B2B BNPL solution on Stripe platform in Europe

Read More

Today

Mastercard and ClearTax to simplify the ITR filing for Indian taxpayers

Read More

July 24, 2024

UK Open Banking marks 10 million user milestone

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024