Nearpay, a Riyadh, Saudi Arabia-based fintech startup specializing in payments infrastructure as a service, raised $14M in Series A funding.
The round was led by Sanabil Investments, with participation from stc’s Corporate Investment Fund, Vision Ventures, Hala Ventures and Arzan Ventures.
The company intends to use the funds to support its global expansion plans, and advance technological capabilities.
Founded in 2020 by Mohamed Aleban and Hamzah Alghamdi, Nearpay is a fintech startup specializing in payment infrastructure as a service. Its Tap on Phone/SoftPOS technology simplifies touchless payments, offering businesses a secure and seamless solution for accepting transactions. The payment infrastructure as a service allows acquiring banks, payment service providers and fintech startups to launch card present payments quickly, securely and integrate their own systems.
FinSMEs
14/12/2023