Qatari fintech startup SkipCash secures QR7mn
Thursday, 04 29 2021, Category: Technology, Country: Qatar
Mobile payment company, SkipCash, has closed a QR7mn ($1.92mn) seed round funding from private Qatari investors. SkipCash, a Qatari fintech startup, is on track to become “the most used mobile payment application in the peninsula.”
The funding secured represents the second round of investments SkipCash received, following an awarded product development fund of QR700,000 in July 2020 from Qatar Science and Technology Park (QSTP), in recognition of its offerings that addresses a key market need in the local economy.
The new capital will be deployed to expand SkipCash's data infrastructure and services across Qatar. Since its launch in 2018, the fintech startup has proven its position within the local fintech sector as a licensed firm by the Qatar Financial Centre (QFC) and regulated by the Qatar Central Bank (QCB).
"We are providing a service that is lacking in the local market, one that will enable and support the digital transformation underway. We are extremely excited to be welcoming a number of highly strategic local investors as we scale our operations.
“The opportunities to collaborate and grow together are significant, and we are now in a strong position to continue to build and scale in the local market," said Mohamed Abdulaziz al-Delaimi, founder & managing director of SkipCash.