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Paymenow Secures $22.5M to Expand Wage Access in Africa

8/6/2025

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Summary

Story summary

South African fintech startup Paymenow has raised ZAR400 million (US$22.5 million) from Standard Bank to broaden its earned wage access services across Africa. Since its inception in 2019, Paymenow empowers employees to access their wages early, providing a vital alternative to payday loans. This funding will boost operations in Namibia and Zambia, fostering financial wellness for many.

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Story summary

South African fintech startup Paymenow has raised ZAR400 million (US$22.5 million) from Standard Bank to broaden its earned wage access services across Africa. Since its inception in 2019, Paymenow empowers employees to access their wages early, providing a vital alternative to payday loans. This funding will boost operations in Namibia and Zambia, fostering financial wellness for many.