Dopay secures £10m in Series A extension funding led by Argentem Creek Partners to scale operations in Egypt.
The investment was led by Argentem Creek Partners with backing from existing investors to fund market expansion and new product launches.
Dopay operates a digital payroll and payments platform that provides banking services for unbanked and underbanked workers in emerging markets.
Dopay has secured £10m in a Series A extension round led by Argentem Creek Partners, with continued participation from existing backers. The fresh capital will be deployed to accelerate expansion in Egypt and launch additional financial products across its multi-bank network. This follows a previous £18m Series A raise as the company scales its payroll and digital banking services for workers in cash-dominated economies.
From the founder
"The unparalleled capabilities of Dopay’s platform and the significant underbanked population present a remarkable growth opportunity. Our continued support underscores our confidence in Dopay’s mission to revolutionize financial services in emerging markets."
Kaj-Erik Relander
Board Member at Dopay
Investor perspective
"We believe a payroll-centric approach is the key to integrating unbanked and underbanked workers in emerging markets into the financial system."
Maarten Terlouw
Co-Chief Investment Officer, Argentem Creek Partners
Use of funds
- 01Expand into international markets
- 02Continue product development
