InvoiceQ, a Jordan-based Software as a Service (SaaS) provider specializing in e-invoicing solutions, has raised $1.2 million in a pre-Series A funding round. The round was backed by Oasis 500, Orange VC, Flat6Labs, Natej Soft, and several angel investors. The capital will support the company’s expansion into new markets, including Oman, Egypt, the UAE, and the wider GCC region.
Founded in 2020 by Muhannad Tobal (CEO), Fadi Al-Jabali (CTO), Amer Ayyad (COO), and Mohammad Baseet (General Manager), InvoiceQ provides a tailored e-invoicing system that addresses the specific needs of businesses in Jordan and Saudi Arabia (KSA). The company has already issued over 50 million invoices, saving clients significant costs and increasing operational efficiency.
InvoiceQ’s platform supports various payment gateways such as SADAD in KSA and eFAWATEERcom in Jordan, along with popular options like Visa and Mastercard. These integrations help streamline payment collections and ensure real-time reconciliation, offering businesses an easy way to manage invoices and comply with tax authorities in both regions.
The company is also recognized by the Zakat, Tax, and Customs Authority (ZATCA) in Saudi Arabia and the Income and Sales Tax Department (ISTD) in Jordan. InvoiceQ’s system automates manual processes, reducing errors, increasing efficiency, and providing accurate data reports.
With over 250 clients from various industries, InvoiceQ aims to expand its client base and drive growth in the MENA region. The company’s vision is to deliver user-friendly, customer-centric e-invoicing solutions that meet local tax regulations while simplifying the invoicing process for businesses of all sizes.
The recent investment is a key milestone for InvoiceQ, unlocking new opportunities to accelerate its growth and revolutionize the e-invoicing industry in the region. “We aim to develop solutions that prioritize simplicity, speed, and real-time updates for e-payment solutions, empowering businesses to manage invoices electronically with minimal effort,” said Tobal.
