Qsalary partners with Itqan Capital to launch $80 million fund

Qsalary partners with Itqan Capital to launch $80 million fund



Saudi Arabia-based HRtech Qsalary has partnered with the Saudi investment company, Itqan Capital, to launch an $80 million investment fund.

The fund offers investment opportunities for investors seeking financial growth to accelerate salary payments and manage scattered expenses.

Founded in 2022 by Mohammed Badwi and Amr Abu Shady, Qsalary provides a digital platform and application offering accelerated salary payment services for employees.

Source: EntArabi

Qsalary, a leading company in digital payment solutions, has announced an agreement with Itqan Capital, a pioneering investment company, to launch an investment fund aimed at providing innovative financial solutions for companies to accelerate salary payments and manage scattered expenses. The fund, valued at 300 million Saudi Riyals, offers distinctive investment opportunities for investors seeking financial growth with security and transparency.

Qsalary provides a digital platform and application offering accelerated salary payment services for employees. This core solution helps companies increase employee loyalty by easing financial burdens on them throughout the month, and reducing administrative costs associated with processing advances, scattered expenses, and payroll.

Qsalary solutions are currently available in Saudi Arabia and Egypt, with plans for expansion soon to include Gulf Cooperation Council countries through local and global partnerships.

ASFA Ventures, led by its CEO, Mansour Al-Shaibi, takes pride in Qsalary as