NOW Money announces new investment round and appoints new CEO

Leading payroll and remittance platform, NOW Money has closed a new financing round led by Dubai-based entrepreneurs Mark Nutter and Nicolas Andine. Nutter founded the Seven Group in Dubai in 2018 which is dedicated to improving Human Resources and Employee Benefits across the GCC. Its Seven Insurance Brokers division advises corporates on their Employees’ medical policies, while EmiratesHR provides corporates with a complete Human Resources Management System, handling payroll and employee benefits across the region.As part of the investment round, Nutter has become the Chairman of NOW Money and Andine has been appointed as CEO to grow the business, expand its product offerings and improve its operational excellence. Dubai based French national Andine has 10 years of experience in scaling technology startups and is currently CEO of EmiratesHR and will continue in this role whilst undertaking the CEO role at the inclusive banking platform, bringing with him his vast local and international contacts.Andine comments: "We were attracted by the unique proposition of NOW Money, combining the strong social mission of bringing banking access to the underserved 1.7million population of the UAE combined with a solid and scalable business model. “We believe the business is perfectly aligned with the initiatives of the government and its value proposition offers a unique path for socially responsible employers to support the financial wellbeing and ultimately mental and physical health of their workers."NOW Money has recently announced it is the first FinTech in the region to offer the UPI remittance option, developed by the National Payments Corporation of India, which offers an instant, cost-effective option for money transfers to India. It also offers easy access payroll and banking to the wider underserved and underbanked immigrant population in the UAE by working with employers to provide a unique service with low remittance and banking fees to multiple countries which are below the United Nations’ industry recommended standard. The company is also launching a new banking subscription service which is the first of its kind for migrant workers in the region. The model will simplify the NOW Money offering, making it easier for the end user to navigate, budget and stay in control of their finances whilst getting greater value from their subscription. The ethical FinTech also provides in person financial literacy and education training in the end user’s native language, demonstrating the company’s clear commitment to financial inclusion and social mobility for all.

EmiratesHR rebrands as Yomly as it expands to global markets

EmiratesHR, the leading HR and Payroll software solutions provider, has announced that it is rebranding itself as "Yomly". Founded in 2018, EmiratesHR has been at the forefront of delivering intuitive HR & Payroll solutions to companies across the UAE, GCC and MENA regions. This rebrand will see the dynamic company take on a new identity to bolster its expansion into global markets.The company's journey over the last five years has been exceptional, growing from a small team of 10 to a workforce of over 80 employees including software developers, product designers and implementation professionals from across the globe. Since 2018, EmiratesHR has evolved from a local solution into a global force, catering to multinational companies with thousands of employees spread across 50+ countries. The company’s unwavering commitment to delivering customisable human capital management solutions has led to the platform boasting over 60,000+ users worldwide in 2023.Mark JP Nutter, Chairman and Founder of EmiratesHR, explained the motivation behind the rebrand, "We are all very proud of the journey that we have been on over the last five years of EmiratesHR. However, as we continue to expand our footprint globally, we felt that the EmiratesHR name no longer captures the full extent of our capabilities and global ambition. Yomly represents our goal to reach every corner of the HR & Payroll technology market and to consolidate our position as a leader in delivering innovative HR solutions worldwide."Yomly is a feature-rich, cloud-based SaaS solution offering a variety of HR and Payroll options such as Leave Management, Performance Management, Onboarding/Offboarding, global Payroll and more. The innovative platform allows HR teams to access and manage employee data from anywhere in the world, as well as streamline and optimise HR & payroll operations. The user-friendly system helps eliminate repetitive admin-intensive tasks and allows HR departments to stay on top of employee information in a central location.“The transition from EmiratesHR to Yomly is a testament to the hard work of our talented team and the support of our clients,” says Nicolas Andine, CEO of Yomly. We have seen 40% growth in the size of our in-house team in the last year and 100% growth in our existing client base year on year, including a significant rise in the number of enterprise-level clients with a global workforce. Our growth and expansion into the global HR and Payroll software market, has driven the decision to evolve into the next stage of our development and rebrand to Yomly. This change is part of our vision to become the best HR & Payroll solution for our clients, not only in the GCC and MENA regions but globally. It’s an exciting time for the business, as we continue to push boundaries and provide the best possible HR & Payroll solution.”Jo Reed, Group Director of HR at Al Ghalia and Yomly client since 2020, had this to say about Yomly’s strengths “We are thrilled to have partnered with Yomly to develop & deliver a platform that aligns with the growing needs of our business now and in the future. The Yomly team have worked hand-in-hand with the team at Al Ghalia to deliver a solution that enables a transition away from legacy HR & Payroll software and increases employee engagement.”Yomly was recognised as the "HR Software of the Year" at the Entrepreneur Middle East Tech Innovation Awards 2023 for the second year running, further cementing the company’s status as a market-leading HR & Payroll solution provider.