EdfaPay Announces Successful $5M Pre-Series A Funding Round
EdfaPay, a Riyadh-based FinTech platform revolutionizing digital payments for small and medium-sized enterprises (SMEs) across the MENA region, has successfully closed a $5 million pre-Series A funding round. The round was led by OmanTel Innovation Labs, with additional participation from Aljabr MENA and Waad Investment, according to Zawya.
Expanding Payment Solutions for SMEs
EdfaPay offers a comprehensive suite of financial tools tailored to startups, freelancers, entrepreneurs, and SMEs. The platform includes SoftPOS technology for seamless payments via smart devices, a secure payment gateway for e-commerce transactions, and automated e-invoicing solutions. All of these services are integrated into a unified, real-time dashboard, making it easier for businesses to manage their finances efficiently.
Strengthening Regional Presence and Expanding Globally
The newly secured funding will allow EdfaPay to enhance its presence in Saudi Arabia, expand across the MENA region and Pakistan, and further develop its payment infrastructure in Oman.
Growth and Future Plans
EdfaPay CEO and co-founder Eng. Ghormallah Alghamdi expressed excitement over the funding, stating, “EdfaPay has experienced impressive international growth, particularly with our SoftPOS technology, which has attracted new partners across the region and beyond. This funding will help us strengthen our technology, add new features, and support our expanding networks in Asia, North Africa, and the GCC.”
