dopay Raises $2 Million in Seed FundingLONDON/GENEVA, 30 April 2015 – dopay, the company whose mission is to become the ‘day-to-day’ bank in markets with largely unbanked and financially underserved populations, has secured $2 million in seed funding from ACE & Company, Techstars Ventures and a syndicate of angel investors working for leading banks, private equity funds and hedge funds. The funds will further the launch of the company’s services in Egypt and help drive expansion into new markets in the Middle East, Africa and Indi...
dopay’s mission is to become the ‘day-to-day’ bank in markets with largely unbanked and financially underserved populations. It provides a cloud-based payroll service that allows employers to calculate salaries and pay all employees electronically. Unbanked employees receive their salary in a dopay account, which comes with a debit card. Consumers can manage their ‘day-to-day’ finance with the dopay app, which gives users instant and real-time access to their balance. It also lets users top-up their prepaid mobile and send money, anywhere anytime. Egypt is the company’s first operating market.