EdfaPay, a Riyadh-based FinTech platform redefining digital payments for small and medium-sized enterprises (SMEs) across the MENA region, has announced the successful closure of its $5m pre-Series A funding round.
The funding was led by OmanTel Innovation Labs, with participation from Aljabr MENA and Waad Investment, according to a report from Zawya.
EdfaPay provides a comprehensive suite of financial tools tailored for startups, freelancers, entrepreneurs, and SMEs. Its solutions include SoftPOS technology for seamless transactions via smart devices, a secure payment gateway for e-commerce, and automated e-invoicing tools. All these features are accessible through a unified, real-time dashboard designed to simplify financial management for businesses.
The newly secured funds will enable EdfaPay to strengthen its presence in Saudi Arabia, expand its reach across the MENA region and Pakistan, and develop its payment infrastructure in Oman.
EdfaPay CEO and co-founder Eng. Ghormallah Alghamdi, said, “EdfaPay has demonstrated impressive international growth; our SoftPOS technology has been attracting new partners across the region and beyond. With this fund, we will strengthen our technology with new features and enhancements to support and expand our networks of partners in Asia, North Africa, and the GCC”.
