Paymenow was designed to even cash flows throughout the month by enabling access to already earned wages at a flat fee. At no additional cost to the employers, employees are able to withdraw a percentage of their earned wages when they need to, and the amount is deducted from the final salary amount at the end of the month. The company also uses a gamified structure within the app to take the users through a financial education journey and encourage better spending and savings habits in a month.
Location: South Africa, Western Cape, Stellenbosch
Total raised: $231K
Investors 2
| Date | Name | Website |
| - | The Cataly... | thecatalys... |
| - | Catalyst F... | bfaglobal.... |
Funding Rounds 1
| Date | Series | Amount | Investors |
| 23.06.2020 | Seed | $231K | - |
Mentions in press and media 15
| Date | Title | Description | Source |
| 29.06.2020 | Catalyst Fund announces three African startups to join new c... | Share this: Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new... | appsafrica... |
| 26.06.2020 | SA startup SmartWage raises R6m to expand payday solution | Johannesburg based startup SmartWage has raised a R6-million investment to help it to grow its solut... | venturebur... |
| 26.06.2020 | SA startup SmartWage raises R6m to expand payday solution | Johannesburg based startup SmartWage has raised a R6-million investment to help it to grow its solut... | venturebur... |
| 24.06.2020 | Nigeria’s Wellahealth, Flex Finance & SA’s Paymenow join... | This article is brought to you as part of a new partnership between two of Africa's foremost news an... | techpoint.... |
| 24.06.2020 | Catalyst Fund selects three African fintech startups for acc... | Three African tech startups have been selected to take part in global inclusive fintech accelerator ... | venturebur... |
| 24.06.2020 | Catalyst Fund selects three African fintech startups for acc... | Three African tech startups have been selected to take part in global inclusive fintech accelerator ... | venturebur... |
| 23.06.2020 | SA’s Paymenow Accepted into Catalyst Fund Accelerator Progra... | Fintech (financial technology) on smart phone concept. Jirsak / Shutterstock.com | techfinanc... |
| 23.06.2020 | SA’s Paymenow Accepted into Catalyst Fund Accelerator Progra... | Fintech (financial technology) on smart phone concept. Jirsak / Shutterstock.com Stellenbosch-based... | techfinanc... |
| 23.06.2020 | Former Springbok, Bryan Habana’s Paymenow nets $231,000 seed... | This article is brought to you as part of a new partnership between two of Africa's foremost news an... | techpoint.... |
| 22.06.2020 | Former Springbok Bryan Habana’s Paymenow nets R4m seed fundi... | Stellenbosch based fintech startup Paymenow today announced that it had landed a R4-million investme... | venturebur... |
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