Dopay
“Can a bank-agent payroll platform become the default financial account for Egypt's unbanked workforce?”
Founded2014
HQLondon, UK (operations: Cairo, Egypt)
FoundersFrans van Eersel
Total raisedundisclosed
Latest roundSeed, 2015 ($2M)
IndustryFintech / Payroll & SMB banking
The story
Founded 2014 in London as a cloud payroll service for unbanked employees, originally exploring multiple emerging markets. Pivoted to focus exclusively on Egypt after securing a Bank Agent license through Arab Banking Corporation Egypt in 2021, becoming the in-country agent issuing prepaid cards and personal accounts for unbanked workers under CBE oversight. Has since layered employer-facing services (Dopay Business Account) and earned wage access (EarlyPay) on top of the core cashless-payroll rails.
Product timeline
2014
Founded in London; participated in Barclays/Techstars fintech accelerator.· pivot
2015
Raised $2M seed to launch cloud payroll service for the unbanked.· banking
2021
Granted Egyptian Bank Agent license via Arab Banking Corporation Egypt (Bank ABC Egypt).· banking
2025
Launched EarlyPay — earned wage access product funded by Dopay.· lending
Regulated entities
1
regulatory licence held by Dopay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
7 layers disclosed in Dopay’s embedded-finance stack
Payments / PSP
Dopay Payroll Disbursement (self-operated, via Bank ABC Egypt)
Banking / BaaS
in the full report
Card issuing
in the full report
Ledger
in the full report
Lending
in the full report
Payroll
in the full report
Sponsor bank
in the full report
Accounting gap: significant
7 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.