Wednesday April 17th, 2024
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Jordanian FinTech Startup POSRocket Has Just Nabbed a $650,000 Investment

The Amman-based startup raised its first seed round from Jabbar Internet Group, Arzan VC, Propeller Inc. and two angel investors.

Staff Writer

Amman-based FinTech startup POSRocket has just raised a seed investment of $650,000, led by Samih Toukan’s Jabbar Internet Group, Arzan VC, Propeller Inc. and two angel investors. Founded by Zeid Husban, the startup sells iPad-based point-of-sale solutions to small and medium businesses, offering merchants a customisable interface that to help run their businesses in a smart way.

The startup, which operates from its offices in Amman and Cairo, has already garnered the attention of 140 small and medium-sized businesses not only in Jordan, but also in Egypt, UAE, Saudi Arabia and Palestine. POSRocket currently has a team of 20 employees, which they plan to expand as they set off to conquer the GCC market in 2018.

The FinTech sector in the Middle East has seen an investment boom in the past months, with Egyptian startup Vapulus raising $250,000, and Foodics landing a massive $4 million only in the past week. In the past month, UAE-based startup NOW Money raised $1.46 million, and Saudi PayTabs secured a gargantuan $20 million.

Main photo: Posrocket.

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