Paytabs Raises $20M
In August, Saudi Arabia’s fintech company Paytabs raised $20M in investment to support its plans for global expansion to 20 markets in the MENA region, Southeast Asia, India, Africa and Europe within the next two years, in August. The company also plans to invest in product development in areas such as digital payments, and engage in strategic acquisitions to boost its product and services portfolio. Moreover, the investment aims to create over 4000 direct and indirect job opportunities that will support global economic growth. The participants in the investment round were not disclosed. According to Abdulaziz F. Al Jouf, Founder and Chief Executive Officer of Paytabs, the company wants to provide secure and flexible financial solutions to small and medium enterprises, and large corporations to help them flourish and grow their revenue in multiples.