dopay
dopay is a Cairo-based B2B2C fintech that provides a digital payroll and cashless payment platform for businesses in Egypt, enabling them to pay unbanked and underbanked employees via prepaid Mastercard cards under a Central Bank of Egypt agent banking license, serving thousands of companies across multiple industries.
- Company typePrivate
- Founded2014
- HeadquartersLondon, United Kingdom
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What dopay does
dopay is a B2B2C digital payroll and cashless payment platform that enables businesses in Egypt to pay unbanked and underbanked employees via prepaid Mastercard cards without requiring traditional bank accounts. Founded in 2014 and headquartered in Cairo (operating as Dopay Egypt LLC), the company serves thousands of companies across verticals including agriculture, construction, manufacturing, retail, hospitality, healthcare, and education, with named enterprise clients such as G4S, Elsewedy Polymers, Domty, Misr Pharmacies, and Beit El Khayata alongside SMB and NGO customers.
The underlying technology is a multi-bank, multi-country virtual banking platform that combines a self-serve web-based payroll portal (payroll.dopay.com) with prepaid Mastercard issuance and a 24/7 real-time disbursement rail. Operations run under an agent banking license from the Central Bank of Egypt held via partner bank Arab Banking Corporation (ABC) Egypt, with client funds held in ringfenced ABC accounts. Core product features include instant 24/7 salary disbursement (including weekends and national holidays), onboarding with National ID only, multi-branch payroll management, and an EarlyPay earned wage access add-on. Mastercard network acceptance provides ATM and POS reach (currently limited to domestic Egypt).
Revenue is generated through payroll processing fees billed to employer clients under individual Service Agreements (recurring subscription) plus card and transaction fees on prepaid card usage (transaction-based). Distribution is hybrid: a self-serve SMB channel plus a dedicated enterprise field-sales motion with account managers, supported by an affiliate referral program. Dopay has raised $31.5M across multiple rounds, including an $18M Series A in September 2021 (Force Over Mass Capital, FMO, NN Group) and a $13.5M Series A extension in July 2024 (Argentem Creek Partners/Hub71 ecosystem). The company has 101-250 employees and explicitly targets MENA expansion beyond Egypt.
dopay firmographics
Firmographics- Name
- dopay
- Legal name
- Dopay Egypt LLC (دوبيي مصر ش.ذ.م.م)
- Website
- https://dopay.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- dopay is a Cairo-based B2B2C fintech that provides a digital payroll and cashless payment platform for businesses in Egypt, enabling them to pay unbanked and underbanked employees via prepaid Mastercard cards under a Central Bank of Egypt agent banking license, serving thousands of companies across multiple industries.
- Ownership category
- akta.pro rank
dopay industry classification
Industry- Product category
- Digital Payroll & Disbursement Software
- NAICS
- Payroll Services (541214), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121)
- SIC
- Finance Services (6199), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Payroll Cards & Salary Prepaid (FSAMANAE)
- akta.pro secondary industries
- Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Bill Pay, Invoicing & Payables Platforms (BPAMAFAF), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)
Keywords
Where dopay is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
dopay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Payroll Processing Fees: dopay charges businesses fees for payroll disbursement services. Fees for Core Services are set out in the Client's Service Agreement. The platform enables companies to pay employees via prepaid cards with no minimum headcount or salary restrictions.
- Card and Transaction Fees: Revenue generated from prepaid Mastercard card issuance and associated transaction fees. Cardholders can withdraw cash from ATMs with no fees according to partnership terms.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Custom enterprise pricing based on Service Agreement |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels8 records
dopay product offering
Product offeringCore offering
dopay provides a B2B digital payroll and cashless disbursement platform that enables Egyptian businesses to pay permanent, temporary, and seasonal workers instantly via prepaid Mastercard cards, with no minimum headcount or salary requirements and no bank account needed by the employee. The platform operates under a Central Bank of Egypt agent banking license in partnership with Arab Banking Corporation (ABC) Egypt, with client funds held in ringfenced accounts and cards powered by the Mastercard network. The offering is bundled with a 24/7 employee support service, dedicated account managers for enterprise clients, and on-location card delivery across Egypt.
Product overview
dopay is a fintech company providing a unified digital payroll and payments platform for businesses operating in Egypt. The core offering consists of the Payroll platform for salary disbursement and the EarlyPay add-on module for earned wage access. The platform enables businesses to onboard and pay employees (permanent, temporary, or seasonal) using prepaid Mastercard cards without requiring employees to have traditional bank accounts. Services are delivered in partnership with Arab Banking Corporation (Bank ABC) Egypt under Central Bank of Egypt supervision, targeting unbanked and underbanked workers across industries including agriculture, construction, retail, hospitality, healthcare, education, and manufacturing.
Differentiator
Problem solved
Functional benefit
Products and services
- Payroll
- EarlyPay Earned wage access feature that lets employees withdraw a portion of their earned salary on demand before the scheduled payday, with the withdrawn amount automatically deducted on the regular payroll date, requiring no employer cash flow adjustments or manual approvals.
Quantifiable outcome
- 87% of dopay's clients saved time and effort on payroll
- +4 more outcomes
Companies that use dopay
Customer profileNamed customers9 records
Segments7 records
Ideal customer profiles3 records
dopay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
dopay partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Arab Banking Corporation (ABC) EgyptcorePartner bank providing agent banking license for dopay to operate as a bank agent under CBE supervision. Client funds are held in ringfenced accounts at ABC Egypt, fully segregated from dopay's operational accounts. Cards are powered by Bank ABC Egypt with Mastercard network.
- MastercardcoreDopay issues prepaid Mastercard cards enabled by partnership with Bank ABC Egypt, allowing cardholders to withdraw cash from any ATM accepting Mastercard worldwide (currently limited to domestic use in Egypt).
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
dopay competitors and assessment
Company assessmentDirect peers
- MNT-Halan: Egyptian fintech providing digital payroll, lending, and payments to unbanked and underbanked workers across MENA. Directly competes with dopay in the cashless payroll and prepaid card space, serving similar enterprise clients with similar B2B2C distribution.
- Paymob: Leading Egyptian payment infrastructure platform enabling merchants and businesses to accept digital payments. Overlaps with dopay in serving Egyptian businesses with digital payment infrastructure, though PayMob focuses more on acceptance than disbursement.
- Khazna: Egyptian fintech offering earned wage access and financial services to underbanked employees, with employer-integrated payroll products. Direct overlap with dopay's EarlyPay module and unbanked-worker focus.
Broad incumbents
- Fawry: Egypt's largest bill payments and digital finance platform serving consumers, merchants, and banks. While primarily consumer-facing, Fawry's broad financial infrastructure competes with dopay in moving Egyptian workers and businesses toward cashless payments.
- Commercial International Bank (CIB) Egypt: Egypt's largest private-sector bank with expanding digital payroll and corporate cash management products for enterprises. Represents incumbent competition for enterprise payroll contracts that dopay targets, particularly among larger corporates with traditional banking relationships.
- Vodafone Cash: Telco-led mobile money wallet in Egypt reaching tens of millions of users including unbanked populations. Competes with dopay for the digital wallet share of unbanked workers, particularly in salary receipt and cash-out use cases.
Emerging players
- Telda: Egyptian neobank targeting young consumers and underbanked users with digital banking accounts and cards. Adjacent competitor in the Egyptian unbanked-wallet space, though more consumer-focused than dopay's employer-led B2B2C model.
- Dayra: Egyptian embedded fintech platform providing earned wage access and financial wellness products to employees via employer partnerships. Direct overlap with dopay's EarlyPay offering and unbanked-worker payroll positioning.
- Mozare3: Egyptian agri-fintech supporting smallholder farmers with digital payments, credit, and supply chain finance. Comparable to dopay in digitizing payments for unbanked agricultural workers, though more focused on farmer-side rather than employer-led payroll.
- Lucky One (Lucky): Egyptian earned wage access and financial wellness platform targeting unbanked employees. Directly comparable to dopay's EarlyPay module and broader thesis of serving underbanked workforce segments through employer-led payroll integration.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
dopay social profiles
Digital presencedopay compliance and trust
Trust signalCompliance2 records
dopay financial estimates
Financial estimateRevenue estimate
Valuation estimate
dopay leadership team
Management profileNumber of profiles
Profiles4 records
dopay funding detail
Funding detailFunding overview
Funding rounds8 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
dopay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about dopay
What does dopay do?
dopay provides a B2B digital payroll and cashless disbursement platform that enables Egyptian businesses to pay permanent, temporary, and seasonal workers instantly via prepaid Mastercard cards, with no minimum headcount or salary requirements and no bank account needed by the employee. The platform operates under a Central Bank of Egypt agent banking license in partnership with Arab Banking Corporation (ABC) Egypt, with client funds held in ringfenced accounts and cards powered by the Mastercard network. The offering is bundled with a 24/7 employee support service, dedicated account managers for enterprise clients, and on-location card delivery across Egypt.
Is dopay a public or private company?
dopay is a private company. It is classified as venture growth investor backed and is currently operating.
When was dopay founded?
dopay was founded in 2014. It employs 101 to 250 people.
Where is dopay based?
dopay is headquartered in London, United Kingdom, in the Europe region.
How does dopay make money?
Two revenue lines are on record. Payroll Processing Fees are the primary driver. The others are card and Transaction Fees.
Who are dopay's main competitors?
Direct peers on record are MNT-Halan, Paymob and Khazna. Broad incumbents are Fawry, Commercial International Bank (CIB) Egypt and Vodafone Cash. Emerging players are Telda, Dayra, Mozare3 and Lucky One (Lucky).
Does dopay have an API?
No public API is recorded for dopay.
What industry is dopay in?
dopay's product category is Digital Payroll & Disbursement Software. Its primary akta.pro industry code is FSAMANAE, Payroll Cards & Salary Prepaid, with a secondary code of FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets). Its NAICS code is 541214 and its SIC code is 6199.