Spendwisor Raised Additional 35 Million USD

Spendwisor Raised Additional 35 Million USD

The recent agreement signed between Spendwisor Inc. and Gem Global Yield LLC SCS (GEM) to increase the existing facility size from QAR 190 million ($50m USD+) to QAR 310 million (USD 85m) is a testament to the positive progress Spendwisor has shown since the original agreement was signed in July 2021.

Spendwisor, a mobile payment, and customer-centric marketing platform is helping the State of Qatar develop the FinTech sector through bringing in FDI ($85 million from the US), creating job opportunities for both the local and global workforce, and supporting the local SMEs by bringing them into the mainstream financial ecosystem.

Safarudheen Farook

“The new round of funding will help us streamline the process of committing resources strategically to accomplish our objective to be a global brand. The companies that can transform business processes with new technology and provide a differentiated experience across the globe will be the industry leaders. We aim to be leaders in the MENA region with our investors’ continuous and timely support,”

says Safarudheen Farook, Co-Founder, and CEO.

“Our discussions with the local and regional FinTech communities have given us a strong reason to expedite our growth strategy, and we are now actively exploring our options to enter several regional markets,