On Monday, a statement was released wherein Dubai based Buy Now Pay Later Platform Postpay raised $10million from AfterPay and AP Ventures. “For Postpay, this strategic investment provides not only capital to enable us to accelerate our growth but also an opportunity to collaborate and bring new learnings from our new shareholders as we expand in the Mena region,” Tariq Sheikh, founder and chief executive of Postpay, said.
About Postpay
Founded in the year 2019 by Tariq Sheikh the main purpose of the startup is to convert the current retail status by offering uncomplicated and reachable products to the customers. “New customers generally have lower spending limits which gradually increases as they repay on time” according to the statistics.
“We are building a community of young and dynamic Postpay customers who use our service to plan and budget. They benefit from our product as much as the retail merchants we partner with, who increase sales and conversion rates, repeat customers, and average order values all without any increased risk.” Postpay states.
Postpay works in partnership with global brands such as H&M, Footlocker, Dermalogica, and regional names such as Alshaya Group, The Entertainer and Kcal. By the year 2025 worldwide, the industry is anticipated to grow 10-15 times topping $1 trillion in annual gross merchandise volume by some estimates.
Anthony Eisen Co-CEO and Co-Founder at Afterpay said “We are excited to support Postpay as they grow the buy now, pay later market in the Middle East. We have seen first-hand the incredible uptake of BNPL globally and have no doubt that Postpay will deliver a best-in-class solution across the Middle East.”
Postpay’s total financing till date is $35 million. Previously, Postpay had raised $5 million in equity and $20 million in startup.
“AP invests in high-growth, scalable businesses and typically invests $10m to $25m to help companies scale up to their full potential. Afterpay, which is available in Australia, Canada, New Zealand, the US, the UK, France, Italy and Spain, has more than 14 million customers. About 86,000 global retailers offer Afterpay as of March 2021.” according to thenationalnews.com.
Former Careem Pay CEO launches SimpliFi, a Cards-as-a-Service platform for the Middle East, North Africa, and Pakistan.
SimpliFi has announced the launch of its Cards as a Service platform for the Middle East, North Africa, and Pakistan. The Dubai-based startup had previously been operating in stealth mode. It has also concluded a seed round led by Saudi-based Raed Ventures, with participation from…
Sanjay Pahwa Calega Capital Director
Sanjay Pahwa is the Director at Calega Resources Investment LLC. Executive Director : Calega Resources Partner : Sygmia Consulting Group Chief Operations Officer, Middle East and Africa : Agility Logistics Global Integrated Logistics Senior Manager, Procurement and Materials Middle East : Kbr, Inc. General Manager :…
Startup News MENA- Edutech Kibo School Gets $2m to Offer Online Study to Students in Africa
Startup Business News MENA : Many parents relocate to America so that their children might benefit from the opportunity to pursue higher education. Unfortunately, not everyone has the admission to do so. to enable more Africans to realise their aspiration fellow benefactor and CEO Ope…
Pakistani consumer lending fintech Tez is acquired by ZoodPay
ZoodPay, a purchase now pay later platform based in Switzerland that operates in many Middle Eastern and Central Asian markets, announced today that it has acquired Pakistani consumer financing startup Tez. The financial terms of the acquisition were not disclosed, but the announcement stated that…
Best Distribution Company in Dubai UAE
Best Distribution Company in Dubai : Looking for Best distribution company Or IT and Hardware distributors in Dubai, United Arab Emirates. Here are the list of Top distributers IT Distributors in Dubai UAE 1. Tartan Glabal 2. Almasa IT Distribution 1. Tartan…
Top 10 Best Startups in Abu Dhabi UAE 2022
Best Startups in Abu Dhabi UAE 2022 Abu Dhabi’s startup and tech scene are growing, and the government has programs to encourage people to start their own businesses. In the coming years, Abu Dhabi is likely to have a strong tech and startup scene. We’ve…
How to Start / Set Up a Crypto Business in Dubai 2022?
Crypto Business in Dubai The city just passed a law and set up a governing body to help promote cryptocurrencies. Dubai is ramping up to become the crypto capital of the world. Crypto enthusiasts can set up a crypto business in Dubai by following these…
Two brothers, one startup and an urge to create an honest impactful brand: Groovy’s inspiring story
While we all were sitting home, groovy started out with a vision to create and give Mitkaran Singh and Rajneesh Sharma started the production of fresh and original juices and they sold 150ml packs for 10 INR each. They started out in the year 2020…
Jordan’s Book Summary Start-up Wajeez Raises $3 Million in Pre-Series A Round
Jordan-based EdTech startup and book summary platform Wazeej, has successfully raised $3 million in a pre-series A round. The funding round that was led by technology venture capital fundSTV, also witnessed the participation of Abu Dhabi’s Shorooq Partners, Jordan’sMawdoo3, and Wise Venture. Founders Wajeez was…
Cairo Based Discount App Startup: LUCKY
Algebra Ventures has invested in Egyptian loyalty solutions firm Dsquares ahead of the launch of its B2C consumer-tech product, the Lucky Discounts App. ABOUT Dsquares was founded in 2012 by Marwan Kenawy, Ayman Essawy, and Momtaz Moussa to assist businesses to enhance client loyalty and…
Presenting before you all PayTabs to power the future of payments in the MENA region
Do you also like to have instant access to the amount paid by your clients using all major credit cards from all over the globe on your websites or mobile apps with just one click? Then go no farther than this comprehensive payment processing solution…
A complete guide to Expo 2020 Metro Extension line in Dubai
The inauguration of a 15 km long extension to the Metro Red line – Route 2020, was done by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President as well as Prime Minister that belongs to UAE and Ruler of Dubai. The opening of…
A complete guide to plan your stay in Dubai during Expo-2020
Despite being held in 2021 this expo is named Expo 2020 With the theme- “Connecting minds, creating the future”, UAE is creating yet another beautiful experience for everyone around. The city & its hotel witnesses one of the peak season during this time hence you…
A guide to the safest travel options, if you are a woman traveling for Expo 2020.
Expo 2020, now to be held in 2021. Know all about dates, tickets, and travel in this article. Dubai, which is one of the 7 emirates of the United Arab Emirates, is amongst the world’s most popular destinations for travel and tourism as well as…
IPL Enters EXPO 2020 Dubai: The catalyst for change
Rajasthan Royals, the pink team of the Indian premier league announces a marvelous title sponsorship deal with Expo 2020 Dubai for the upcoming 14th season of IPL. As a part of the association, “Expo 2020 Dubai” will appear on the front of Rajasthan Royals’ jersey…
FIDE world chess championship to be held at Dubai Expo 2020
The upcoming FIDE World Chess Championship, which is the highlight of the world chess calendar, is all set to take place at the state-of-the-art Dubai Exhibition Centre, co-located at Expo 2020, from November 24 to December 16. NEW DATES AND EXCITEMENT The world governing body…
List of Top 10 Best Hospitals in Dubai UAE 2022
Top 10 Best Hospitals in UAE Dubai 2022 : Name Official Site Contact Address Cleveland Clinic https://www.clevelandclinicabudhabi.ae 800 222 33 Global Market Square – Abu Dhabi – UAE Medeor 24X7 Hospital https://medeor.ae/dubai/ 97180055 Dubai, United Arab Emirates King’s College Hospital Dubai https://kingscollegehospitaldubai.com/ 971 4 247…
Majid Al Futtaim Launches A Regional Accelerator Programme For Startups & SMEs
Business News MENA : The retail group Majid Al Futtaim has started an accelerator programme to help startups and small and medium-sized businesses (SMEs) in strategic sectors speed up their growth plans and help the economy grow. Details: The programme will work with AstroLabs, which…
Dubai Plans to Launch A Network of 50 Offices Around the Globe For Commerce Promotion
According to Dubai business news – Dubai will establish a network of 50 representative offices across five continents over the next few years to promote the emirate’s economic interests as it strives to become one of the world’s major corporate hubs. “We are the most…
Top 10 Best Budget Indian Restaurants in Dubai 2022
Here is the list of Top 10 Budget Indian Restaurant in Dubai – Desire Indian cuisine in Dubai? You’re in luck, as Dubai has an abundance of Indian eateries selling everything from the most scrumptious curries and biryanis to classic subcontinental street cuisine. The cuisine…
India-based PolicyBazaar raises $75M in order to expand in the middle east market
PolicyBazaar has raised around $75M in order to expand its network in the middle east market. The funding was led by US-based Falcon Edge Capital. The company had experienced a 66% increase in revenue to $70M in FY2020 but had also experienced a loss of…
Shiprocket has received $41.3 million in financing from PayPal Ventures and Bertelsmann
“It doesn’t matter how long you’ve been in the business. It all comes down to the calibre of your years of experience.”- Shiprocket Highlights of the article New investor Tech Edge Ventures joined existing investors March Capital and Tribe Capital in the round. The most…
Eyewear Unicorn Lenskart Secures $220 million, To Expand in Asia and Middle East
Omni-channel eyewear brand Lenskart, secured $220 million in a funding round that was led by Temasek Holdings Pte and Falcon Edge Capital. The round also witnessed the participation of existing investors Bay Capital and Chiratae Ventures, valuing the startup at $2.5 billion. Avendus Capitalacted as…