Home

  • Contribute
    BECOME A REGULAR CONTRIBUTOR
    If you would like to contribute regularly to startupsceneme please send your CV and writing samples to info@thestartupscene.me
    CONTRIBUTE AN ARTICLE

    Are you building a startup and want to share your story? Do you have tips for entrepreneurs, or insights to MENA industries? Submit your article with a photo and we'll get in touch with you.

    Photo format: 800 x 491 pixels.

    Contribute An Article
  • Suggest Event
  • BookMark
  • Subscribe
Previous Post
Egypt to Begin Implementation of MENA’s Biggest Digital Transformation Project for Businesses
Next Post
Music Streaming Platform Anghami Raises Funds from UAE Investment Giant SHUAA Capital

Saudi Payment Acceptance Specialist NearPay Raises $600K in Pre-Seed Funding

Less than a year old, the startup is now poised for a vital 2021, as it targets micro-merchant transactions in a bustling Saudi market.

Date
06/01/2021 09:03

Saudi fintech, NearPay, has announced that it has closed a $600K pre-seed investment led by Musaab Hakimi and a group of angel investors. Founded in early 2020 by Muhammad Al-Aiban, the startup offers payment acceptance solutions for micro-merchant transactions. 

By helping merchants accept payments directly through their smartphones using NFC technology, NearPay aims to give flexibility to merchants, doing away with the need for traditional POS devices. The services have proven particularly valuable for owners of small stores, businesses offering delivery and even for representatives of shipping companies.

Having already obtained the Visa Tap on Phone certification, NearPay is poised for a vital year. “The Saudi market has a great opportunity to enter and expand into the field of financial technologies,”  Al-Aiban said in the wake of the investment. “By doing so, this will help in achieving our goals in the coming year."




Sign up for the daily Startup Digest.

MORE FROM THIS WRITER
‘Buy Now, Pay Later’ Platform Tamara Raises $6 Million, Marking KSA’s Largest Ever Seed Investment

‘Buy Now, Pay Later’ Platform Tamara Raises $6 Million, Marking KSA’s Largest Ever Seed Investment

20 Jan 2021
Founded a little over a year ago, the startup is poised to be a local and regional [...]
Meet NAQLA: The First Egyptian Startup to Address the Needs of an Aging Shipping Industry

Meet NAQLA: The First Egyptian Startup to Address the Needs of an Aging Shipping Industry

20 Jan 2021
Launched in 2016, NAQLA can be considered something of a trailblazer in Egypt, as [...]
Ashoka and Boehringer Ingelheim Look to Africa for Global ‘Making More Health’ Accelerator

Ashoka and Boehringer Ingelheim Look to Africa for Global ‘Making More Health’ Accelerator

20 Jan 2021
Now in its third edition, the programme has invited entrepreneurs from Africa’s [...]
UAE’s P2P Payment App Ziina Secures Seed Funding & Wins Place in Y Combinator Accelerator

UAE’s P2P Payment App Ziina Secures Seed Funding & Wins Place in Y Combinator Accelerator

19 Jan 2021
Founded in 2020, Ziina has continued to impress in its short lifetime and has big [...]
RELATED ARTICLES
KSA's Cloud-Based Accounting Software Specialist Qoyod Raises $2.1 Million in Series A Funding

KSA's Cloud-Based Accounting Software Specialist Qoyod Raises $2.1 Million in Series A Funding

29 Dec 2020
With several new product roll-outs already in the works, the startup intends to use [...]
Fintech Saudi and Flat6Labs Launch New Accelerator Programme

Fintech Saudi and Flat6Labs Launch New Accelerator Programme

03 Oct 2020
The acceleration programme marks an important milestone for Fintech Saudi. [...]
UAE Startup Rise Raises $1.4 Million to Expand Financial Services for Unbanked Migrant Workers

UAE Startup Rise Raises $1.4 Million to Expand Financial Services for Unbanked Migrant Workers

24 Mar 2020
UAE-based Rise aims to expand its service across the Gulf, its first locations [...]
UAE’s ‘Financial Wellness’ Startup FlexxPay Raises Investment

UAE’s ‘Financial Wellness’ Startup FlexxPay Raises Investment

11 Mar 2020
Dubai-based fintech startup, FlexxPay, has raised a Pre-Series A investment as it [...]


Week Month Year

Meet NAQLA: The First Egyptian Startup to Address the Needs of an Aging Shipping Industry

Launched in 2016, NAQLA can be considered something of a trailblazer in Egypt, as it continues to make strides in simplifying the often [...]

Jada Fund of Funds Signs Agreement with Merak Capital to Support Early-Stage Tech Startups in KSA

As Saudi Arabia marches towards a more diversified and tech-focused economy, Jada Fund of Funds has made an official commitment to Merak [...]

Stacks MENA Teams Up with Changelabs, GIZ Egypt & Pravica to Launch Region’s 1st Blockchain Bootcamp

A MENA first, the bootcamp is one big big step towards creating and fostering a new and inclusive blockchain ecosystem in the region. [...]

Bahraini Crypto-Asset Platform Rain Eyes Expansion Across MENA Following $6 Million Series-A Funding

With crypto-asset adoption increasing in the last year, the company intends to use its investment to expand its presence and operations [...]

Iraqi Last Mile Delivery Startup Hi-Express Raises Six-Figure Seed Round to Expand Local Presence

With the backing of the Iraqi Angel Investors Network, Hi-Express is poised to take 2021 by the horns in an increasingly competitive market. [...]

Egyptian Book Summary App Akhdar Raises Six-Figure Investment from EdVentures

The startup will look to expand its library and introduce new smart learning experiences. [...]

Egypt’s E-Commerce Market is Now Worth EGP 40 Billion

The pandemic has forced a huge shift towards online shopping, something that Egypt's Internal Trade Authority is looking to maximize [...]

Egypt to Begin Implementation of MENA’s Biggest Digital Transformation Project for Businesses

First announced almost one year ago, the project is set to kick off its first phase, during which seven holding companies and their [...]

Egyptian Healthtech Startup CliniDo Raises Six-Figure Investment to Develop New Products & Services

With plans to expand into Alexandria already in the works, the investment will allow the startup to expand its products and services. [...]

Dubai-Based Fintech Flexxpay Signals Intent for MENA-Wide Expansion with New Beirut Setup

Already boasting on-ground sales forces in UAE, KSA and Bahrain, Flexxpay has launched a new telesales centre in Beirut. [...]

25 Under 25: The Entrepreneurs Reshaping Egypt's Startup Landscape for the New Decade

They're changing mindsets, challenging the status quo, fusing high-tech to the traditional, freshening up stale sectors and hustling their [...]

Kashat Is the First Egyptian Mobile App to Give Small Loans

Lending as little as EGP 100 to as much as EGP 1,500, Kashat is the first to be licensed for nano-finance. [...]

Fatafeat Launches World’s First Fully Arabic Cooking Course App

The Arabic cooking channel found that two thirds of Egyptians lack confidence in the kitchen, inspiring the launch of the ‘Genius Kitchen’ [...]

Uber Shuts Down Uber Eats Operations in All Middle East Markets

Uber Eats will shut down in Egypt and Saudi Arabia, while UAE operations will transition to Uber subsidiary Careem. [...]

This American-Egyptian Startup Found a Solution to the Shortage of Doctors

After scoring their seed round and launching in Egypt, these founders are hoping to make your healthcare journey a lot simpler. [...]

Meet NAQLA: The First Egyptian Startup to Address the Needs of an Aging Shipping Industry

Launched in 2016, NAQLA can be considered something of a trailblazer in Egypt, as it continues to make strides in simplifying the often [...]

Jada Fund of Funds Signs Agreement with Merak Capital to Support Early-Stage Tech Startups in KSA

As Saudi Arabia marches towards a more diversified and tech-focused economy, Jada Fund of Funds has made an official commitment to Merak [...]

Stacks MENA Teams Up with Changelabs, GIZ Egypt & Pravica to Launch Region’s 1st Blockchain Bootcamp

A MENA first, the bootcamp is one big big step towards creating and fostering a new and inclusive blockchain ecosystem in the region. [...]

Bahraini Crypto-Asset Platform Rain Eyes Expansion Across MENA Following $6 Million Series-A Funding

With crypto-asset adoption increasing in the last year, the company intends to use its investment to expand its presence and operations [...]

Iraqi Last Mile Delivery Startup Hi-Express Raises Six-Figure Seed Round to Expand Local Presence

With the backing of the Iraqi Angel Investors Network, Hi-Express is poised to take 2021 by the horns in an increasingly competitive market. [...]

‘Buy Now, Pay Later’ Platform Tamara Raises $6 Million, Marking KSA’s Largest Ever Seed Investment

Founded a little over a year ago, the startup is poised to be a local and regional leader in what remains an underserved area of the [...]

Meet NAQLA: The First Egyptian Startup to Address the Needs of an Aging Shipping Industry

Launched in 2016, NAQLA can be considered something of a trailblazer in Egypt, as it continues to make strides in simplifying the often [...]

Ashoka and Boehringer Ingelheim Look to Africa for Global ‘Making More Health’ Accelerator

Now in its third edition, the programme has invited entrepreneurs from Africa’s growing healthtech sector to take part, as it looks to [...]

UAE’s P2P Payment App Ziina Secures Seed Funding & Wins Place in Y Combinator Accelerator

Founded in 2020, Ziina has continued to impress in its short lifetime and has big plans for the coming years, including expansion into new [...]

Bahrain’s Investcorp to Acquire US-Based E-commerce Solutions Specialist Unilog

The acquisition will help Unilog innovate its platform and grow its customer base, though the big question is how Investcorp might come to [...]

EDITOR'S PICKS
Highway to 100 Unicorns: Microsoft to Launch Series of Programmes for Startups in Abu Dhabi

Highway to 100 Unicorns: Microsoft to Launch Series of Programmes for Startups in Abu Dhabi

16 Jan 2021
The tech giant has teamed up with the Abu Dhabi Investment Office to roll out a five-year initiative that will see it help local startups scale their businesses. [...]
Fintech for a Future: Why Changelabs' Jordan Accelerator Has Come at the Right Time

Fintech for a Future: Why Changelabs' Jordan Accelerator Has Come at the Right Time

11 Jan 2021
As the first fintech accelerator if its kind in Jordan, Changelabs' latest programme is looking to provide a platform for a market of untapped innovators. [...]
Egypt to Begin Implementation of MENA’s Biggest Digital Transformation Project for Businesses

Egypt to Begin Implementation of MENA’s Biggest Digital Transformation Project for Businesses

05 Jan 2021
First announced almost one year ago, the project is set to kick off its first phase, during which seven holding companies and their subsidiaries will be transformed - the first of a total of 63. [...]
EVENTS CALENDAR
Todays Events
Show all events
Show all events

follow startupscene