dopay, a B2B2C payments network aimed at serving unbanked workers in emerging markets, has closed a USD 1.8 Mn Series A round. The investment round has reportedly been led by Force Over Mass Capital, FMO, and NN Group. Mbuyu Capital and Alder Tree Investments also made considerable contributions.
dopay intends to address a steady and growing demand from businesses for cashless payroll and from workers for access to virtual banking and digital payments. The platform allows staff members to receive real-time payments, including weekends and holidays. Each account offers a prepaid debit card, in partnership with Mastercard, enabling 24/7 access to funds via ATM withdrawal.